Insurance Companies in United Arab Emirates

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Insurance companies in the United Arab Emirates have had their significance increased because of a rapidly growing business environment, steadily performing economy, and an increase in the business class. This is exactly why the insurance industry in the United Arab Emirates is also prospering in the business friendly conditions created by the government to attract foreign investments.

Although the insurance industry in the United Arab Emirates is yet to mature as getting insured is not a usual or a trend in the Middle East but with increasing number of expatriates, foreigners and the elite class from all over the world the more and more people are getting to know the benefits of insurance and now even the locals are getting their insurance packages.

Dubai in the United Arab Emirates has appeared as a metropolitan city that has attracted huge foreign investments and business community from around the globe becoming of the main reason why it is considered the most prosperous city for the insurance industry in the United Arab Emirates.

Most of the insurance companies offer travel insurance and life insurance in Dubai, also there are medical insurance companies that offer some competitive insurance plans compared to other parts of the world which has made many people understand the significance of insurance in their life.

It is not just Dubai where the trend of insurance is increasing but the whole of United Arab Emirates, in fact the whole Middle Eastern region is now following the trend and because people were not familiar with the term insurance very much in this part of the world the rapid growth in the economy and the inflow of foreign investments has made them realize the benefits of insurance in their daily life.

This is why Travel, Life, and Medical insurance companies have been able to make good ground in the markets of United Arab Emirates, and since Dubai has been a hot spot for tourists from all over the world travel insurance and life insurance in Dubai have been among the most asked insurance plans in Dubai.

Also as Dubai is considered the financial hub of the Middle Eastern region and hosts most of the business organizations, and multinationals where it is a standard procedure to have their employees insured which is another reason why insurance companies have been progressing at a good rate in Dubai.

Sharjah is also among on the cities in the United Arab Emirates where the insurance industry is progressing at a good rate. There are a number of Sharjah insurance companies that offer competitive packages and plans to suit the need of their target prospect customers.

These Sharjah insurance companies offer a huge variety like life insurance, medical insurance, travel insurance, and auto insurance to cover all that needs to be insured. This is the main reason that insurance companies in Sharjah have been able to get twenty percent more business in the first half of 2011 compared to 2010 and the trend is on a upswing.

It is due to this fact that more and more foreign investor feel comfortable investing in and working in United Arab Emirates as not only they are working in a safe, secure, and business friendly environment are also able to get themselves and their property insured.

Author Bio
Andy Robert is a reputed united Arab emirates insurance agent, and has been working in the local life insurance in dubai and travel insurance business for the last three years. He has worked as a consultant with a number of reputed financial institutions, and is currently residing in Abu Dhabi.

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