UAE Insurance Industry Poised for 20 percent Growth in 2025 SP

The insurance industry in United Arab Emirates remains positive for growth in 2025, with a projected expansion of 10 to 20 percent following a predicted 20 percent growth in 2024, According to S&P Global Ratings.

The agency also highlighted that the remaining Gulf countries would have favorable growth conditions as well, with some countries growing from 5% to 15% depending on how friendly the “conditions of each country” are.

Emir Mujkic, Director of Insurance Ratings at S&P Global Ratings, that digitization is essential to enhancing customer satisfaction and propelling industry expansion. He claimed that in order to improve operational effectiveness and boost their competitiveness in the market, top insurance companies in the United Arab Emirates are making significant investments in automation and digital transformation. According the Sources.

According to him, the benefits of digital transformation are anticipated to include bettering consumer satisfaction by making insurance products easier to obtain through digital platforms, offering more specialized services through sophisticated data analytics, and expediting the claims procedure.  Higher levels of client satisfaction and greater use of insurance services will result from these initiatives.