Examining the resilience of UAE to decline in oil prices - the case of the insurance sector

Kishore, Pallavi ORCID logoORCID: https://orcid.org/0000-0001-8421-0475 and Aslam, Mariam (2021) Examining the resilience of UAE to decline in oil prices - the case of the insurance sector. International Journal of Sustainable Society, 13 (4) . pp. 317-336. ISSN 1756-2538 [Article] (doi:10.1504/IJSSOC.2021.121616)

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The sharp fall in oil prices from $112/barrel in 2014 to $59/barrel in 2019 impacted many economies in the world in both positive and negative manner. United Arab Emirates (UAE) has been seeking diversification to reduce its reliance on oil revenues and expects higher growth from non-oil revenues in 2020. This study aims to examine the resilience of UAE to decline in oil prices with the insurance sector as a representative sector of the economy This study involves calculations and comparisons of financial ratios pre- and post-fall in oil prices in the UAE. Parametric test results indicate that while the change in investment and efficiency ratios is statistically significant, profitability, efficiency and gearing ratios have been quite stable in the period. Despite the overall slowdown in the insurance industry, the sector has been mostly resistant to the drop in oil prices. This resilience can be attributed to the ongoing efforts of UAE leadership to diversify away from an oil-based economy.

Item Type: Article
Sustainable Development Goals:
Research Areas: A. > Business School
A. > Business School > Accounting and Finance
A. > Business School > Economics
Item ID: 35738
Notes on copyright: This is the author accepted manuscript included in this repository as permitted by the publisher's sharing policy https://www.inderscience.com/mobile/inauthors/index.php?pid=74
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Depositing User: Pallavi Kishore
Date Deposited: 26 Aug 2022 10:48
Last Modified: 31 Dec 2022 04:04
URI: https://eprints.mdx.ac.uk/id/eprint/35738

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