The UAE’s insurance sector is projected to see significant growth in 2025, with expectations of expansion between 10 percent and 20 percent. This follows an estimated growth of 20 percent in 2024, as indicated by S&P Global Ratings.

S&P also noted that other Gulf countries are likely to benefit from favorable growth conditions in their insurance markets, with anticipated growth rates ranging from 5 percent to 15 percent. These figures will vary based on the specific circumstances of each country.

Emir Mujkic, Director of Insurance Ratings at S&P Global Ratings, stated in a release to the Emirates News Agency (WAM) that digitization plays a crucial role in enhancing customer experiences and driving growth in the sector. He pointed out that leading insurance companies in the UAE are making substantial investments in automation and digital transformation.

Mujkic explained that these digital advancements are expected to provide several advantages, including improved customer experiences through easier access to insurance products via digital platforms. Additionally, the use of advanced data analytics will allow for more tailored services, while streamlining the claims process will enhance efficiency. These initiatives aim to boost customer satisfaction and encourage greater participation in insurance services.