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UAE insurance market set to grow on demand

UAE insurance market set to grow on demand

UAE insurance marketplace is anticipated to develop on rising demand, but finding suitable staff is one of the challenges, research has discovered.

Mentioning other challenges the research found that improvement in the legal framework could aid to make the environment more amenable for insurance organizations.

Recently released study by Dubai Chamber of Commerce and Industry focuses on the present trends and prospects in the United Arab Emirates insurance marketplace as tinted by BMI (Business Monitor International) report, which specifies that the UAE insurance market is anticipated to see good growth as the interest in insurance products rises.

Future predictions for the United Arab Emirates insurance sub-sector, where the non-life premium marketplace is expected to increase with a compound annual rate of growth (CAGR) of 11 percent, whilst the life span premium market is forecast to grow with a CAGR of 8 per cent per year.

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