The UAE’s insurance industry is expected to continue its upward trajectory in 2025, with growth projected between 10% and 20%, according to S&P Global Ratings. This follows an estimated 20% expansion in 2024, highlighting the sector’s resilience and strong market fundamentals.
Regional Growth in the GCC
S&P also noted that other Gulf countries will experience positive growth in their insurance markets, with expansion rates projected between 5% and 15%, depending on market conditions in each country.
The Role of Digital Transformation
Emir Mujkic, Director of Insurance Ratings at S&P Global Ratings, emphasized that digitization is a key driver of sector growth. Leading UAE insurance companies are investing heavily in automation and digital transformation to enhance operational efficiency and customer experience.
Key benefits of digital innovation in insurance include:
• Easier access to insurance products through online platforms.
• Tailored services powered by data analytics.
• Streamlined claims processing, reducing delays and improving customer satisfaction.
As the UAE continues to push for technological advancements, the insurance sector is set to become more accessible and efficient, further strengthening its market position in the region.
DP World Expands Jeddah Port with $800 Million South Container Terminal
Dubai’s DP World and Saudi Ports Authority (Mawani) have unveiled the newly expanded South Container Terminal at Jeddah Islamic Port, marking a significant milestone in DP World’s $800 million (SR3 billion) expansion plan.
Doubling Capacity for Trade Growth
The three-year project has:
• More than doubled the terminal’s capacity from 1.8 million TEUs to 4 million TEUs.
• Created room for future expansion to 5 million TEUs.
• Enhanced efficiency with new ship-to-shore equipment to meet growing demand.
Strengthening Saudi Arabia’s Trade Hub
Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, highlighted the project’s significance:
“This expansion builds on our 25-year legacy in Jeddah and reinforces our commitment to driving regional trade growth. With this modernized terminal, we are enhancing efficiency, improving supply chain resilience, and creating new trade opportunities for the Kingdom and beyond for decades to come.”
DP World’s Jeddah terminal, its first concession outside the UAE since 1999, plays a crucial role in regional trade. Under a 30-year BOT (Build-Operate-Transfer) agreement, this expansion strengthens Jeddah’s position as a key trade hub, aligning with Saudi Vision 2030 goals.
Strategic Impact on Regional Trade
The opening ceremony was attended by Saudi Transport Minister Eng. Saleh bin Nasser Al-Jasser, DP World Chairman Sultan Ahmed bin Sulayem, and DP World GCC CEO Abdulla Bin Damithan, alongside key stakeholders from DP World and Mawani.
With cutting-edge infrastructure and increased capacity, Jeddah Islamic Port is poised to play a pivotal role in boosting Saudi Arabia’s global trade influence while reinforcing DP World’s commitment to regional connectivity and logistics excellence.
