Market Regulation: Supervision is unified under the Central Bank of the UAE. Axco’s regulatory reports highlight 2026 "Emiratisation" targets and the integration of open finance services.
Non-Life Market Trends: GWP growth is fueled by mandatory Health insurance; Axco’s intelligence shows a 2026 surge in Property insurance linked to the "Vision 2030" infrastructure boom.
Distribution Channels: Brokers lead commercial lines, while Axco analysis identifies digital aggregators as the new standard for personal motor and home insurance in the Emirates.
Key Risks & Outlook: Competition remains extremely aggressive; Axco data suggests the UAE is solidifying its status as a global hub for specialty reinsurance and Takaful business.
Insurance companies: Axco Navigator details that there are 125 companies in the non-life and life insurance and reinsurance sector in the DIFC.
Insurance Statistics: Axco reports written premiums in 2024 increased by 26.6% to AED 26,299 Mn with motor the largest class of business, accounting for 31% of premiums. Insurance penetration stands at 1.30%.
Insurance market reports are produced following a country visit with interviews with professionals working in the sector with systematic updates to information throughout the cycle. Covering market developments, macroeconomic factors and comprehensive details of the regulatory environment including relevant taxation as well as market indicators and company statistics.
Axco’s United Arab Emirates Non-Life Insurance Market Report (P&C) also comprises a detailed analysis of lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers’ liability and liability.
The Life & Benefits Report for the United Arab Emirates includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics
Key Benefits
Insurance Market Reports (Non-Life)
Insurance Market Reports (Life & Benefits)
Employee Benefits Reports
Regulatory Alerts
Market Profiles
Insight
Insight EB
Compliance Point
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Axco API
| Time-zone Capital city Currency Population Real GDP growth (%) Inflation (%) latest GWP Insurance Penetration (%) |
GMT +4 Abu Dhabi AED 9.99 mn 2.45 1.01% 11,986.61 (mn) 2.85 |
The United Arab Emirates (UAE) is a federation of seven emirates (Abu Dhabi, Dubai, Ras Al Khaimah, Sharjah, Ajman, Umm Al Quwain and Fujairah) with a total area of 30,000 square miles (77,700 square kilometres). The total population in 2020 was estimated at 9.89 million.
Independence from Britain was gained in 1971 when the United Arab Emirates was formed. In 1981 the UAE joined Oman, Qatar, Saudi Arabia, Bahrain and Kuwait to form the Gulf Cooperation Council (GCC).
The regulator reported in its 2018 report that there were 62 licensed insurance companies in the market, of which 35 were majority locally owned and 27 were branches of foreign companies. There were 15 majority locally owned composites, two foreign company composites and 15 foreign non-life only insurance companies. There was also one company writing export credit business and 12 takaful operators (all of which are majority locally owned).
It should be noted that the sectors specifically affected in the UAE by the hardening trends in the reinsurance market are principally those where facultative reinsurance capacity is required.
