Project for the creation of a nationwide life insurance company

The creation of a nationwide life insurance company has been encouraged by the regulatory authorities. The project would combine the existing national companies. It aims to develop life insurance in the UAE and get hold of a portion of the premiums ceded to foreign 10 companies currently operating in the country. The latter monopolize 81% of total life underwritings estimated at 8 billion AED (408 million USD).

The UAE market includes 27 life insurance companies of which 17 have national status.