The Impact of Consolidation on Insurance Brokers–An Exclusive Interview with Gargash Insurance

Gargash Insurance- insurance brokers- insurance providers- UAE 25 Jan, 2024

Learn how insurance providers in the UAE can benefit from industry consolidation for increased efficiency and profitability in this interview with our executive director, Mr. Suresh Nair featured in Khaleej Times.

Regulatory changes and a thriving economy are propelling mergers and acquisitions, fostering consolidation within the insurance industry in the Gulf region. The insurance sector in the UAE and KSA, which are the primary insurance markets in the GCC, is rapidly evolving and progressing towards maturity in terms of growth and regulations.

In 2022, the Middle East and Africa insurance market observed 24 M&A transactions, including notable mergers like Watania international Holding with Dar Al Takaful and the acquisition of Aman's non-life portfolios by Salama in the UAE. 

The consolidation trend is driven by competition, increasing costs, and heightened regulatory standards in the UAE. 

The impact of M&A and consolidation on insurance brokers and consumers is considered mutually beneficial, as it leads to financially stronger entities, improved customer offerings, and service standards.

Gain valuable insights from our Executive Director, Mr. Suresh Nair, as he discusses market growth, regulatory advancements, and significant M&A activity in his latest article published in Khaleej Times.

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