Life Insurance in the UAE, Key Trends and Opportunities to 2019
Powered by
All the vital news, analysis, and commentary curated by our industry experts.
Although located in the Middle East, the UAE – a federation of seven states (emirates): Abu Dhabi; Dubai; Ajman; Fujairah; Ras al Khaimah; Sharjah; and Umm al Qaiwain – tends not to experience the political distress and violence faced by other countries in the region. Moreover, the country’s central location as a trade link between Europe and Asia makes it an attractive business transit location. This has enabled the economy to diversify beyond oil exports, and expansion in the tourism and hospitality sector since 2000 has made it one of world’s most popular tourist destinations. All these factors have helped the country build international business confidence, attracting brands such as Microsoft, Americana Group and Mondelēz International.
According to GlobalData, the UAE insurance industry was the largest in the Gulf Cooperation Council (GCC) after Saudi Arabia in 2014. The industry’s gross written premium increased from AED19.0 billion (US$5.2 billion) in 2010 to AED28.7 billion (US$7.8 billion) in 2014, at a review period (2010 to 2014) CAGR of 10.8%. The life segment’s gross written premium grew from AED3.8 billion (US$1.0 billion) to AED7.5 billion (US$2.0 billion) over the same period, at a review period CAGR of 18.7%.
Scope
• An analysis of the various distribution channels in the UAE life insurance segment
• An overview of the competitive landscape of the life insurance segment in the UAE
• An examination of the key developments in the UAE life insurance segment
• The highlighting of new products launched by UAE life insurers
• The key trends, drivers and challenges for the UAE life insurance segment
• An exhaustive list of parameters in the life insurance industry in the UAE, including: written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
• Profiles of the leading life insurance companies operating in the UAE life insurance segment
• A comprehensive overview of the UAE’s economy and associated demographics
• Historical values for the UAE life insurance segment for the report’s 2010 to 2014 review period, and projected figures up to 2019
• A detailed analysis of the key categories in the UAE life insurance segment, and market forecasts to 2019
Key Highlights
What forecast-period CAGR is the life insurance segment anticipated to post?
Which key demographic factors are stimulating the demand for life insurance products in the UAE?
What dominates the segment’s distribution network? How much of the segment’s new business gross written premium in 2014 did this domination account for?
What are the main growth drivers of life insurance in the UAE? What will one of these key drivers enable for the life insurance industry?
Reasons to Buy
• Make strategic business decisions in the UAE life insurance segment utilizing GlobalData’s in-depth historic and forecast market data
• Gain an in-depth understanding of the UAE life insurance market
• Assess the market dynamics and seek competitive advantage through the positioning of your products
• Identify the growth opportunities in key product categories in the UAE life insurance sector and align your sales and marketing accordingly
• Investigate key regulations governing the UAE life insurance industry to ensure your compliance to any legislative changes
• Evaluate the performance of key market drivers and current distribution channels to identify opportunities to increase your future participation
Abu Dhabi National Insurance Company
Orient Insurance Company
Emirates Insurance Company
Al Ain Ahlia Insurance Company
Al Buhaira National Insurance Company
Union Insurance Company
National General Insurance Company
Al Wathba National Insurance Company
Al-Sagr National Insurance Company
Table of Contents
Table
Figures
Frequently asked questions
Get in touch to find out about multi-purchase discounts
reportstore@globaldata.com
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.