Emirates Insurance considers it a positive thing in light of the “Covid-19” conditions.

Insurance companies employ 49 citizens during 2020

  • «Central»: 1183 citizens working in the insurance sector at the end of 2020. Archive

  • Farid Lutfi: "The appointments indicate the companies' efforts to attract citizens, and the attempt of the citizen element to overcome the challenges of the sector."

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Amal Al-Minshawi À Abu Dhabi

Insurance companies operating in the country employed 49 citizens during 2020, which the Emirates Insurance Association considered “a positive matter that counts for companies”, especially in light of the conditions of the spread of the emerging Corona Virus (Covid-19) pandemic, which witnessed a reduction in the number of jobs in many sectors, or Reducing salaries due to market conditions, and the state of closure that affected the economies of the world.

The latest figures issued by the Central Bank, a copy of which was obtained by "Emirates Today", showed that the number of citizens working in the insurance sector at the end of 2020 reached 1183, constituting 12.7% of the total number of workers in the sector.

In turn, the figures of the Insurance Authority, before its merger with the Central Bank, indicate that the number of citizens at the end of 2019 amounted to 1134 male and female citizens, which means that the number that was appointed in 2020 amounted to 49 male and female employees.

The new appointments of the Insurance Authority previously, which ran the sector before merging it under the umbrella of the Central Bank, are calculated, as the merger procedures have not been completely completed yet.

positive designation

The Secretary-General of the Emirates Insurance Association, Farid Lutfi, told "Emirates Today" that the appointment of this number of citizens in light of the market conditions imposed by the Corona virus pandemic, is a positive matter, given what we have witnessed from all sectors being affected, and some companies reducing the number of employees they have after The shift to remote work, or the impact of the salaries of other sectors as a result of the general closure that affected all economies around the world.

He continued: "This also indicates the companies' efforts to attract citizens, at the same time increasing the demand of the citizen element to employment in the insurance sector, and trying to overcome the challenges of low salary compared to government agencies, as well as working hours and vacations, and other obstacles that prevent the high rate of Emiratisation. In a way that satisfies everyone, and commensurate with the size of the sector.”

System of fines and incentives

The Insurance Authority "previously" announced during the past year that, after the Cabinet's decision on the new Emiratisation strategy was issued with a points system, it worked to develop an integrated plan aimed at an integrated implementation of the strategy, in cooperation with insurance companies and related parties, and a set of the most important measures were taken. during 2019 in this regard.

She confirmed that the system of fines and incentives was approved for the implementation of the Emiratisation strategy, as well as participation in localization accelerators workshops, and the establishment of a CV bank for those wishing to work in the insurance sector, so that companies would offer vacancies to citizens on the Insurance Authority's website.

In its annual report on the sector's activity, the authority indicated that joint workshops were held with insurance companies, and specialized studies and questionnaires were updated to study the needs of the market, citizens, and training needs of the sector, collecting data, calculating target points and analyzing the results.

• Citizens constitute 12.7% of the total number of workers in the insurance sector.

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