GCC insurers see over 21% growth in premiums
Posted On: Apr. 11, 2023 10:00 AM CST![Premium growth](https://bicontent.businessinsurance.com/e3918cf9-8472-4373-a1a2-a1299bb42b13.jpg)
A report by U.A.E.-based market research firm Insurance Monitor said that the aggregate gross written premium of 80 insurers listed in the Gulf Cooperation Council nations increased by 21% year-on-year to $30.4 billion in 2022, Middle East Insurance Review reported. The increase was driven by growing oil operations, new compulsory covers and increased capital expenditures. Eight capital-rich insurers account for 75% of the overall increase in premiums.