Creative Zone Buys Stake In UAE's Largest Insurance Brokerage

Creative Zone, a UAE-based business set-up advisory firm, has acquired a stake in InsuranceMarket.ae, the largest consumer insurance brokerage in the UAE.

The acquisition is part of a strategic partnership to further the growth of an ecosystem to support SMEs and entrepreneurs set up, sustain and grow their businesses in the UAE, a statement said.

The SME sector employs 85 percent of the country’s workforce in the non-oil private sector and the contribution of the SME sector to the UAE’s GDP is estimated at 53 percent in 2019, according to the Federal Competitiveness and Statistics Authority’s report.

Steve Mayne, managing partner, Creative Zone, said: “We are continuously striving to actively contribute to the UAE’s position as the global location of choice for doing business for SMEs and entrepreneurs. We aim to become a catalyst that not only simplifies the business setup process, but a one-stop shop for all the business requirements to facilitate ongoing sustainable business growth and success.

"We are continuously evolving our offering to provide added business support services and the strategic partnership with InsuranceMarket.ae marks the next step in this journey.”

Jigar Sagar, managing director, Creative Zone, added: “Our partnership with InsuranceMarket.ae will help us broaden our offering and provide customized insurance services to our clients to support the growth of their business."

Avinash Babur, founder and CEO, InsuranceMarket.ae, said: “We have an exciting pathway to leverage our association to bring greater value to the public of the UAE, especially to the vital SME sector. I look forward to collaborating with Creative Zone to further enhance the delivery of insurance services in a seamless and digital-first way.”