Industry experts reported that Gulf insurers are poised for rapid growth in the coming future with gross premiums for insurance in the UAE currently growing annually by 18 percent, while in Saudi Arabia, they are growing by 17 percent.
According to Standard & Poors, the reasons behind such growth is due in part to the fact that a growing number of countries are making insurance mandatory, reported <i>Reuters</i>.
Additionaly, takaful, or Islamic insurance, is changing its stand towards the industry.
