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Edem Kuenyehia, associate director at A.M. Best Co. Inc., has confirmed that the United Arab Emirates continues to be the insurance hub of the Gulf region, This Day Live reported.
In the short to medium term, the U.A.E. is expected to maintain its status as the "predominant insurance market within the Gulf Cooperation Council," Mr. Kuenyehia said. He said the country's economic growth would continue to fuel the expansion of the insurance industry, and strong spending would drive up demand for property insurance, This Day Live reported.