United Arab Emirates Insurance Report Q4 2016

Date: September 14, 2016
Pages: 51
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)

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Includes 3 FREE quarterly updates

BMI View: The outlook for the insurance sector in the UAE is broadly positive. The implementation of compulsory health insurance for the large (and growing) expatriate workforce is stimulating growth in the already well-established non-life sector, while wider economic growth will increase demand for a range of other lines, including property and liability insurance. The life insurance sector, though smaller than the non-life sector, is expected to record robust growth over the forecast period between 2016 and 2020, again driven by demand among the expatriate workforce. While some barriers to foreign entry remain, the UAE is already home to a number of important multinationals which bring diversity to the available product range and ensure a healthy level of competition.

Key Updates And Forecasts
  • In June 2016 the Insurance Authority (IA) of the UAE launched a guide for the Emiratization of the insurance industry - part of government strategies to increase the employment of nationals in key sectors including insurance and banking.
  • The expatriate population is frequently the target for insurance providers in the UAE and in August 2016 Guardian Wealth Management reported that as much as 80% of the expatriate population in the UAE was lacking adequate property cover.
BMI Industry View
  Table: Headline Insurance Forecasts (United Arab Emirates 2013-2020)
Industry Forecast
Life Premiums Forecast
  Table: Life Premiums (United Arab Emirates 2013-2020)
  Table: Life Insurance Claims (United Arab Emirates 2008-2013)
Non-Life Premiums Forecast
  Table: Non-Life Premiums (United Arab Emirates 2013-2020)
  Table: Non-Life Insurance Claims (United Arab Emirates 2009-2014)
Non-Life Sub-Sector Forecast
  Table: Non-Life Insurance Premiums by Product Line (United Arab Emirates 2013-2020)
Industry Risk Reward Ratings
MENA Insurance Risk/Reward Index
  Table: MENA Insurance Risk/Reward Index - Q416
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
Islamic Arab Insurance Company (Salama)
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Indicators
  Table: Weighting of Indicators
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