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Market Report, "the Insurance Industry in the UAE, Key Trends and Opportunities to 2017", Published

New Insurance market report from Timetric: "The Insurance Industry in the UAE, Key Trends and Opportunities to 2017"

 

Boston, MA -- (ReleaseWire) -- 04/25/2014 -- The United Arab Emirates (UAE) has the largest insurance industry in the Gulf Cooperation Council (GCC) region. The gross written premium registered by the industry increased at a review-period (2008-2012) compound annual growth rate (CAGR) of 9.5%. This is further expected to rise at a CAGR of 10.1%. As of December 2012, there were 61 insurers operating in the Emirati insurance industry, of which 34 were national companies and 27 were foreign. The non-life insurance segment accounted for the highest value of gross written premium in the industry. Foreign insurers are permitted to own a maximum stake of 25% in an Emirati insurer. Emirati insurers cede considerable proportions of their premiums to reinsurers; national insurers ceded 44.7% of their property and liability insurance premium to reinsurers in 2012. Brokers and agents are the principal distribution channels in the industry.

View Full Report Details and Table of Contents

Report Highlights

- The United Arab Emirates (UAE) has the largest insurance industry in the Gulf Cooperation Council (GCC) region
- The nation's real estate market is expanding and, along with the infrastructure projects, will be a significant driver of the property insurance category
- There are a total of 61 insurers and two reinsurers operating in the UAE's insurance industry in 2012
- In 2008, the regulator stopped issuing licenses for new foreign insurers to establish their branches in the country
- The Insurance Authority stipulated in 2010 that all UAE insurers were required to have a minimum subscribed or paid-up capital of AED100 (US$27.2 million)
- Publicly listed insurers dominated the country's insurance industry"

Report Scope

This report provides a comprehensive analysis of the insurance industry in the UAE:

- It provides historical values for the the UAE insurance industry for the report's 2008-2012 review period and projected figures for the 2012-2017 forecast period.
- It offers a detailed analysis of the key segments and categories in the the UAE insurance industry, along with forecasts until 2017.
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions.
- It profiles the top insurance companies in the UAE, and outlines the key regulations affecting them."

Reasons to Get this Report

- Make strategic business decisions using in-depth historic and forecast industry data related to the the UAE insurance industry and each segment within it.
- Understand the demand-side dynamics, key trends and growth opportunities within the the UAE insurance industry.
- Assess the competitive dynamics in the the UAE insurance industry.
- Identify the growth opportunities and market dynamics within key segments.

Companies Mentioned in this Report: Oman Insurance Company PSC, Orient Insurance Company (PJSC), Abu Dhabi National Insurance Company, Emirates Insurance Company, National Insurance Company (PSC), Al-Buhaira National Insurance Company, Ras Al Khaimah National Insurance Company PSC,

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