Best’s Market Segment Report: Underwriting Conditions for UAE Insurers on Track to Improve Amid IFRS 17 Transition
April 25 2024 - 12:00AM
Business Wire
Measures put in place by the United Arab Emirates (UAE)
insurance regulator, the Central Bank of the UAE, during 2023 and
in early 2024 should ameliorate the relatively poor performance of
personal lines insurance and support premium growth in the country,
according to a new report from AM Best.
The Best’s Market Segment Report, “Underwriting Conditions for
UAE Insurers on Track to Improve Amid IFRS 17 Transition,” notes
that continued regulatory intervention was important given that the
underwriting profitability of the UAE’s listed insurers continued
to be affected by the heightened competitive environment in the
motor and medical segments.
In the report, AM Best analysts also examine the recently
published results for the UAE’s listed insurers and discuss the
impact of the transition to the new IFRS 17 reporting regime.
To access a complimentary copy of this special report, please
visit
http://www3.ambest.com/bestweek/purchase.asp?record_code=342283.
AM Best is a global credit rating agency, news publisher and
data analytics provider specialising in the insurance industry.
Headquartered in the United States, the company does business in
over 100 countries with regional offices in London, Amsterdam,
Dubai, Hong Kong, Singapore and Mexico City. For more information,
visit www.ambest.com.
Copyright © 2024 by A.M. Best Rating
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Todor Kitin, ACA Financial Analyst +44 20 7397
0335 todor.kitin@ambest.com
Jessica Botelho-Young, CA Associate Director,
Analytics +44 20 7397 0310
jessica.botelho-young@ambest.com
Richard Banks Director, Industry Research – EMEA
+44 20 7397 0322 richard.banks@ambest.com
Edem Kuenyehia Director, Market Development &
Communications – EMEA & AP +44 20 7397 0280
edem.kuenyehia@ambest.com