UAE Insurance Sector Poised for Continued Growth in 2025, Says S&P Global Ratings
Abu Dhabi, March 7, 2025 – The United Arab Emirates' (UAE) insurance sector is set to maintain strong growth prospects in 2025, with S&P Global Ratings forecasting a growth rate of 10% to 20%, following an estimated 20% expansion in 2024.
In a statement to the Emirates News Agency (WAM), Emir Mujkic, Director of Insurance Ratings at S&P Global Ratings, emphasized that digital transformation is a key driver of growth, as leading UAE insurance companies increase investments in automation and digital services to enhance efficiency and competitiveness.
Regional Insurance Market Growth
S&P Global Ratings also projected positive growth trends for other Gulf Cooperation Council (GCC) markets, with growth rates expected to range from 5% to 15%, depending on the economic and regulatory landscape of each country.
Impact of Digital Transformation
Mujkic highlighted the significant role of digitization in shaping the future of the UAE's insurance industry, stating that digital advancements will lead to:
Enhanced customer experience, providing easier access to insurance products through digital platforms.
Tailored insurance services, using advanced data analytics to offer personalized solutions.
Streamlined claims processing, leading to faster settlements and increased customer satisfaction.
As the UAE continues to lead in financial and technological innovation, the insurance sector’s digital transformation is expected to play a crucial role in boosting market participation and solidifying the country’s position as a regional hub for insurance services.