UAE’s new life insurance regulations to increase policyholder number and help grow the Dh9.5 billion sector

UAE’s new life insurance regulations

Although the new life and family insurance regulations that came into effect on October 15, 2020, are more transparent and holds insurance brokers accountable, a drastic reduction in brokerage commission might force many life insurance agents out of work Gross total written life, group life, individual life and group credit life insurance premium in the UAE reached Dh9.51 billion in 2018; Gross written premium in the individual life insurance in the UAE crossed Dh7.52 billion in 2018; New regulations cut life insurance commission drastically, that will make selling life insurance…

Best’s Special Report: Cash Collection Remains Problematic for Insurers in the United Arab Emirates

LONDON–(BUSINESS WIRE/AETOSWire)– The challenges faced by insurers in the United Arab Emirates (UAE) in relation to insurance debtors can apply additional pressure on already distressed technical margins, according to a new report by AM Best. In the Best’s Special Report, titled, “Cash Collection Remains Problematic for Insurers in the United Arab Emirates,” AM Best notes that while average insurance debtor days for listed UAE-national insurers has showed an improving trend, they were well above the average for the Middle East and North Africa (MENA) region. Salman Siddiqui, associate director, analytics,…