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United Arab Emirates Insurance Report Q1 2016

  • December 2015
  • -
  • Business Monitor International
  • -
  • 52 pages

Includes 3 FREE quarterly updates

BMI View: The insurance market in the United Arab Emirates is growing rapidly, bolstered by widereconomic growth and an increasingly robust regulatory framework. The non-life market is considerablymore developed than the life sector, with higher rates of penetration and density, primarily due to extensivedemand for mandatory health insurance by the large expatriate population in the UAE. Life insurance isless established, and again demand is primarily driven by foreign workers unable to access generous statebenefits provided to nationals. Both life and non-life are expected to show steady premium growth over ourfive-year forecast period through to 2019, making this an attractive market for insurance providers, thoughwe 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 aresolution that will enable emergency healthcare providers to charge insurance companies for emergencytreatment 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.

Table Of Contents

United Arab Emirates Insurance Report Q1 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (United Arab Emirates 2012-2019) 5
SWOT 6
Insurance 6
Industry Forecast 8
Life Premiums Forecast 8
Table: Life Premiums (United Arab Emirates 2012-2019) 11
Table: Life Insurance Claims (United Arab Emirates 2007-2013) 12
Non-Life Premiums Forecast 12
Table: Non-Life Premiums (United Arab Emirates 2012-2019) 15
Table: Non-Life Insurance Claims (United Arab Emirates 2008-2013) 17
Non-Life Sub-Sector Forecast 17
Table: Non-Life Insurance Premiums By Product Line (United Arab Emirates 2012-2019) 24
Industry Risk Reward Ratings 26
MENA Insurance Risk/Reward Index 26
Table: MENA Insurance Risk/Reward Index 27
Market Overview 28
Life Market Overview 28
The Product Offering 28
The Competitive Landscape 29
Non-Life Market Overview 31
The Product Offering 31
The Competitive Landscape 32
Company Profile 34
Abu Dhabi National Insurance Company (ADNIC) 34
Alliance Insurance Company 37
Arig 40
Islamic Arab Insurance Company (Salama) 43
Methodology 46
Industry Forecast Methodology 46
Risk/Reward Index Methodology 49
Table: Indicators 51
Table: Weighting of Indicators 52

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