Insurance

While motor insurance remains the chief source of revenue and claims, accounting for 25.8% of the total $565.5m in gross premiums recorded in 2011, mandatory medical insurance – which has been on the table for several years and is expected to become a law in the short to medium term – has the potential to provide a new and lucrative line of business. There is also an increasing focus on risk-based underwriting as the highly competitive domestic market seeks to ensure profitability continues. This chapter includes an interview with Zakareya Sultan Al Abbasi, CEO, Social Insurance Organisation.