The UAE insurance market enjoyed record profitability and strong premium growth in 2017. On a net profit basis, the industry continued to improve for the second year in a row achieving a net profit of AED 1,294m for 2017, compared to a net profit of AED 895m in 2016, an increase of 45%. Total GWP for Takaful operators now stands at AED 3.5b compared to AED 18.4b for traditional companies.