Sukoon Insurance: Medical and Motor to Drive UAE Insurance Growth in 2026

Sukoon Insurance, celebrating 50 years of shaping the UAE insurance landscape, expects medical and motor lines to drive insurance sector growth in 2026. The outlook is supported by strong economic momentum, population expansion and accelerating digital transformation.

Hammad Khan, Interim CEO and CFO at Sukoon Insurance, said, “The year will be defined by rapid digitalisation, AI-driven disruption and stricter regulatory enforcement, which will elevate compliance costs and likely accelerate industry consolidation. Inflation and softening investment income will continue to pressure profitability, reinforcing the need for disciplined underwriting.”

Demand for property and casualty insurance has risen since the 2024 floods, while cyber insurance is gaining traction as companies scale digital and AI deployments. At the same time, UAE’s growing long-term expatriate base is boosting interest in life, savings and pension products. The UAE insurance market is expected to grow around 10-15% in 2026, following an expected exceptional market growth of around 15-20% in 2025.

Sukoon’s 50th anniversary underscores five decades of stability and scale, supported by AED 5.41 billion in revenue, AED 10.43 billion in assets and strong credit ratings (A2 IFSR by Moody’s and A by S&P Global).

To commemorate its milestone year, Sukoon introduced a special edition 50-year logo, multiple commemorative initiatives including a gala celebration with employees representing more than 50 nationalities and Sukoon For All CSR programme.

“As we mark 50 years in the UAE, Sukoon enters its next chapter with the same spirit that defined our past - discipline, innovation and an unwavering commitment to our customers. The UAE’s insurance sector is now on the verge of a major digital leap. We want to lead this transformation by offering smarter solutions, faster service and deeper trust, ensuring we remain a partner our customers can rely on for the next 50 years and beyond,” added Hammad.

With its golden jubilee celebrations complete and a clear outlook for the future, Sukoon Insurance continues to build on its legacy of resilience and innovation.