Yemen Insurance Industry – Key Trends and Opportunities to 2028
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Yemen Insurance Market Report Overview
The direct written premium of the Yemen insurance market was YER75.1 billion ($58 million) in 2023. The market is expected to achieve a CAGR of more than 7% during 2024-2028. The Yemen insurance market research report provides in-depth market analysis, information, and insights into the Yemen insurance industry. It provides values for key performance indicators such as direct written premium, penetration, premium accepted and ceded, profitability ratios, and premium by line of business, during the review period and forecast period.
Yemen Insurance Market Outlook, 2023-2028 (YER Billion)
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The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Yemen economy and demographics, and provides detailed information on the competitive landscape in the country. The report gives insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.
Market Size (2023) | YER75.1 billion ($58 million) (DWP) |
CAGR (2024-2028) | >7% |
Forecast Period | 2024-2028 |
Historical Period | 2019-2023 |
Key Trends | · Digitalization
· Marine Insurance |
Key Segments | · Life Insurance
· General Insurance |
Leading Players | · United Insurance
· Cooperative and Agricultural · Medical Insurance · Aman Insurance · Yemeni Qatari |
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Yemen Insurance Market Trends
Growing digitalization and a surge in the popularity of marine insurance are a few of the recent trends influencing the Yemen insurance market. For instance, in January 2023, Medical Insurance Specialist launched a mobile app for its customers. The app enables policyholders to access the medical benefits covered under their contract, while also providing information on how to use the various services available to them. In addition, it provides details of the nearest service providers based on the user’s location.
Yemen Insurance Market Segments
General insurance led the Yemen insurance market in 2023
The key segments in the Yemen insurance market are life insurance and general insurance. In 2023, the general insurance sector accounted for a prominent share of the total Yemen insurance industry’s DWP. The key lines of business in the general insurance segment of Yemen insurance market are property, motor, liability, and MAT among others.
Yemen Insurance Market Analysis by Segments, 2023 (%)
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Yemen Insurance Market – Competitive Landscape
United Insurance was the largest Yemen insurance market player in 2022
The key companies in the Yemen insurance market are:
- United Insurance
- Cooperative and Agricultural
- Medical Insurance
- Aman Insurance
- Yemeni Qatari
Yemen Insurance Market Analysis by Players, 2022 (%)
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Segments Covered in the Report
Yemen Insurance Market Segments Outlook (Value, YER Billion, 2019-2028)
- Life Insurance
- General Insurance
Scope
This report provides a comprehensive analysis of the Yemen insurance industry:
- It provides historical values for the Yemen insurance industry for the report’s 2019-2023 review period and projected figures for the 2024–28 forecast period.
- It offers a detailed analysis of the key categories in the Yemen insurance industry and market forecasts for 2027.
- It profiles the top life insurance companies in Yemen and outlines the key regulations affecting them.
Key Highlights
- Key insights and dynamics of the Yemen insurance industry.
- A comprehensive overview of the Yemen economy, government initiatives, and investment opportunities.
- The Yemen insurance regulatory framework’s evolution, key facts, taxation regime, licensing, and capital requirements.
- The Yemen insurance industry’s market structure gives details of lines of business.
- Yemen’s reinsurance business’s market structure gives details of premium ceded along with cession rates.
Reasons to Buy
- Make strategic business decisions using in-depth historical and forecast market data related to the Yemen insurance industry, and each category within it.
- Understand the demand-side dynamics, key market trends, and growth opportunities in the Yemen insurance industry.
- Assess the competitive dynamics in the Yemen insurance industry.
- Identify growth opportunities and market dynamics in key product categories.
Cooperative and Agricultural Credit Bank
Medical Insurance Specialist
Yemen General Insurance
Aman Insurance
Yemen Islamic Insurance
Mareb Yemen Insurance
Global Insurance
Table of Contents
Frequently asked questions
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What was the Yemen insurance market direct written premium in 2023?
The direct written premium of the Yemen insurance market was YER75.1 billion ($58 million) in 2023.
-
What is the growth rate of the Yemen insurance market?
The insurance market in Yemen is expected to achieve a CAGR of more than 7% during 2023-2027.
-
Which segment dominated the Yemen insurance market in 2023?
The general insurance segment dominated the Yemen insurance market in 2023.
-
Who are the major players operating in the Yemen insurance market?
The key companies in the Yemen insurance market are United Insurance, Cooperative and Agricultural, Medical Insurance, Aman Insurance, and Yemeni Qatari among others.
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