1. Market Research
  2. > Financial Services
  3. > Insurance Market Trends
  4. > Governance, Risk and Compliance – The Yemeni Insurance Industry

Synopsis
Timetric’s 'Governance, Risk and Compliance – The Yemeni Insurance Industry' report is the result of extensive research into the insurance regulatory framework in Yemen.

It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operation of insurance and reinsurance companies and intermediaries.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, and recent and upcoming changes in the regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.

Summary
The report provides insights into the governance, risk and compliance framework pertaining to the insurance industry in Yemen, including:

- An overview of the insurance regulatory framework in Yemen.

- The latest key changes, and changes expected in the country’s insurance regulatory framework.

- Key regulations and market practices related to different types of insurance product in the country.

- Rules and regulations pertaining to key classes of compulsory insurance, and the scope of non-admitted insurance in Yemen.

- Key parameters including licensing requirements, permitted foreign direct investment, minimum capital requirements, solvency and reserve requirements, and investment regulations.

- Details of the tax and legal systems in the country.

Scope
- The report covers details of the insurance regulatory framework in Yemen.

- The report contains details of the rules and regulations governing insurance products and insurance entities.

- The report lists and analyzes key trends and developments pertaining to the country’s insurance regulatory framework.

- The report analyzes the rules and regulations pertaining to the establishment and operation of insurance businesses in the country.

- The report provides details of taxation imposed on insurance products and insurance companies.

Reasons To Buy
- Gain insights into the insurance regulatory framework in Yemen.

- Track the latest regulatory changes, and expected changes impacting the Yemeni insurance industry.

- Gain detailed information about the key regulations governing the establishment and operation of insurance entities in the country.

- Understand key regulations and market practices pertaining to various types of insurance product.

Key Highlights
- The Ministry of Industry and Trade, the regulatory authority, is responsible for the protection of consumer interests and the development of the insurance industry.

- Foreign direct investment in a Yemeni insurance company is allowed up to a maximum of 49%. However, foreign reinsurers can open branches in Yemen by obtaining a license from the Ministry of Industry and Trade.

- The government of Yemen is planning to introduce the Social Health Insurance Law in the country, which will make health insurance mandatory for government employees.

- Non-admitted insurance is not permitted in Yemen.

- Insurance companies operating in Yemen are not subject to solvency requirement


Table Of Contents

Governance, Risk and Compliance - The Yemeni Insurance Industry
Table of Contents
1 INTRODUCTION
1.1 What is this Report About?
1.2 Definitions
2 GOVERNANCE, RISK AND COMPLIANCE
2.1 Legislation Overview and Historical Evolution
2.2 Latest Changes in Regulation
2.3 Legislation and Market Practice by Type of Insurance
2.3.1 Life insurance
2.3.2 Property insurance
2.3.3 Motor insurance
2.3.4 Liability insurance
2.3.5 Marine, aviation and transit insurance
2.3.6 Personal accident and health insurance
2.4 Compulsory Insurance
2.4.1 Social health insurance
2.4.2 Liability for oil pollution
2.5 Supervision and Control
2.5.1 International Association of Insurance Supervisors
2.5.2 The Ministry of Industry and Trade
2.5.3 Yemeni Insurance Union
2.6 Non-Admitted Insurance Regulation
2.6.1 Overview
2.6.2 Intermediaries
2.6.3 Market practices
2.6.4 Fines and Penalties
2.7 Company Registration and Operations
2.7.1 Type of insurance organization
2.7.2 Establishing a local company
2.7.3 Foreign ownership
2.7.4 Types of license
2.7.5 Capital requirements
2.7.6 Solvency margin
2.7.7 Reserve requirements
2.7.8 Investment regulations
2.7.9 Statutory return requirements
2.7.10 Fee structure
2.8 Taxation
2.8.1 Insurance premium or policy taxation
2.8.2 Withholding taxes on premium paid overseas
2.8.3 Corporate tax
2.8.4 VAT
2.8.5 Captives
2.9 Legal System
2.9.1 Introduction
2.9.2 Access to court
2.9.3 Alternative dispute resolution (ADR)
3 APPENDIX
3.1 Methodology
3.2 Contact Timetric
3.3 About Timetric
3.4 Timetric's Services
3.5 Disclaimer


List of Tables
Table 1: Insurance Industry Definitions
Table 2: Yemen - Insurance Regulatory Framework Key Features
Table 3: Yemen - Life Insurance Regulatory Framework
Table 4: Yemen - Property Insurance Regulatory Framework
Table 5: Yemen - Motor Insurance Regulatory Framework
Table 6: Yemen - Liability Insurance Regulatory Framework
Table 7: Yemen - Corporate Tax Rates for the Financial Year 2016


List of Figures
Figure 1: Yemen - Insurance Supervision and Control at Various Levels
Figure 2: Yemen - Insurance Regulatory Frameworks for Company Registration and Operation

View This Report »

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 24 Million searchable statistics with tables, figures & datasets
  • More than 10,000 trusted sources
24/7 Customer Support

Talk to Ahmad

+1 718 618 4302

Purchase Reports From Reputable Market Research Publishers
Logistics Insurance Market Analysis By Industry (Transportation, Marine, Aviation),By Country And Segment Forecasts, 2014 - 2025

Logistics Insurance Market Analysis By Industry (Transportation, Marine, Aviation),By Country And Segment Forecasts, 2014 - 2025

  • $ 4950
  • Industry report
  • November 2016
  • by Grand View Research

The global logistics insurance market is anticipated to reach USD 61.55 billion by 2025, according to a new report by Grand View Research, Inc. The increasing foreign direct investment, establishment of ...

Maximizing Direct-to-Consumer Opportunities in Insurance

Maximizing Direct-to-Consumer Opportunities in Insurance

  • $ 3800
  • Industry report
  • December 2016
  • by Timetric

Synopsis Timetric’s 'Insight Report: Maximizing Direct-to-Consumer Opportunities in Insurance' analyzes the emerging importance of the direct-to-consumer (D2C) channel in the insurance industry. It provides: ...

Global Automotive Usage-Based Insurance Market 2017-2021

Global Automotive Usage-Based Insurance Market 2017-2021

  • $ 3500
  • Industry report
  • January 2017
  • by Infiniti Research Limited

About Automotive Usage-Based Insurance The global automotive UBI market is at a nascent stage and has low penetration in the overall automotive insurance market. The market is seeing an influx of new players ...

Uk Home Emergency Insurance 2016

September 2016 $ 3450

Download Unlimited Documents from Trusted Public Sources

Health Insurance Industry in Taiwan - Forecast

  • January 2017
    3 pages
  • Health Insuranc...  

  • Taiwan  

    United States  

View report >

Sorghum Industry in the US

  • January 2017
    3 pages
  • Sorghum  

  • United States  

View report >

Insurance Market in the US - Forecast

  • January 2017
    2 pages
  • Insurance  

    Insurance  

    Crop Insurance  

  • United States  

View report >

Related Market Segments :

Insurance
Reinsurance

ref:plp2016

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.