Insurance Uptake In GCC “Not Nearly Enough” – Analyst

Insurance uptake in the GCC remains worryingly low, despite a rise in premiums that far outstrips the worldwide growth average for 2009, a global management consultant has claimed. Value Partners revealed on Monday that premiums in the GCC climbed 28% to $10.6bn last year from 2008 – a huge gap compared to the 3.4% global average. But Santino Saguto, managing director of Value Partners’ Dubai office, insisted insurance growth in the GCC was still not nearly enough.