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United Arab Emirates Insurance Report Q1 2016

  • ID: 3511239
  • December 2015
  • Region: United Arab Emirates
  • 52 pages
  • Business Monitor International
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The insurance market in the United Arab Emirates is growing rapidly, bolstered by wider economic growth and an increasingly robust regulatory framework. The non-life market is considerably more developed than the life sector, with higher rates of penetration and density, primarily due to extensive demand for mandatory health insurance by the large expatriate population in the UAE. Life insurance is less established, and again demand is primarily driven by foreign workers unable to access generous state benefits provided to nationals. Both life and non-life are expected to show steady premium growth over our five-year forecast period through to 2019, making this an attractive market for insurance providers, though we note some restrictions on foreign investment remain.

Key Updates And Forecasts
- The roll-out of mandatory health insurance in the UAE continues and the government recently passed a resolution that will enable emergency healthcare providers to charge insurance companies for emergency treatment in the country.

- Qatar Insurance Company (QIC) is launching in the retail (personal) non-life market, providing motor,
travel and home insurance alongside the corporate products it has provided in the UAE since 1968.

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Table: Headline Insurance Forecasts (United Arab Emirates 2012-2019)

SWOT

Insurance

Industry Forecast

Life Premiums Forecast
Table: Life Premiums (United Arab Emirates 2012-2019)
Table: Life Insurance Claims (United Arab Emirates 2007-2013)

Non-Life Premiums Forecast
Table: Non-Life Premiums (United Arab Emirates 2012-2019)
Table: Non-Life Insurance Claims (United Arab Emirates 2008-2013)

Non-Life Sub-Sector Forecast
Table: Non-Life Insurance Premiums By Product Line (United Arab Emirates 2012-2019)

Industry Risk Reward Ratings

MENA Insurance Risk/Reward Index
Table: MENA Insurance Risk/Reward Index

Market Overview

Life Market Overview

The Product Offering

The Competitive Landscape

Non-Life Market Overview

The Product Offering

The Competitive Landscape

Company Profile

Abu Dhabi National Insurance Company (ADNIC)

Alliance Insurance Company

Arig

Islamic Arab Insurance Company (Salama)

Methodology

Industry Forecast Methodology

Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

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Abu Dhabi National Insurance Company (ADNIC)
Alliance Insurance Company
Arig
Islamic Arab Insurance Company (Salama)

Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown

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Our Clients

  • Transatlantic Holdings, Inc.
  • Aon Plc.
  • Swiss Reinsurance Company Ltd.
  • Prudential Financial, Inc.
  • General Reinsurance Corporation
  • ING Group