Insurers Key To Raising Interest In UAE Policies

A collective failure to educate people about insurance products is hampering penetration levels in the UAE, according to industry experts. Karl Gray, head of personal lines for RSA Middle East, told delegates at Insurex Conference 2010 in Dubai that many of the country’s expatriate population were from country’s where insurance uptake was relatively low. “I have been in the UAE for six years and the traditional view is penetration is very poor here,” he said. “But one thing we have to take into account is the demographics of the UAE.

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.