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Financial and insurance services

United Arab Emirates

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Dubai has the largest and most sophisticated financial services industry in the entire Gulf region. It is home to many banks, insurance, financial and legal services firms. Abu Dhabi and Dubai are growth markets in their own right, and continue to be of interest to the UK financial services industry.
The Dubai International Financial Centre (DIFC) is a financial free-zone opened in September 2004. The DIFC seeks to position itself as a global financial centre situated between London/New York and Hong Kong. H.H Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, Deputy Ruler of Dubai, is the President of the DIFC.
UAE’s insurance sector has reported strong growth in gross premiums written (GPW) and net profits and trend is expected to continue into the second half this year, according to analysts.
Till the middle of 2017, gross premiums for the 28 (out of 30) publicly listed insurance companies in the UAE increased by 17 per cent to Dh12.2 billion (about $3.3 billion) from Dh10.5 billion for the first six months in 2016.
The government of UAE is undertaking initiatives to provide boost to the insurance sector in the country.

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