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United Arab Emirates Insurance Report Q3 2008Published by: Business Monitor International Published: Sep. 17, 2008 - 58 Pages Table of Contents
AbstractIn Q308 the key change we have incorporated is more information about the companies operating acrossthe regions of which each country is a part. We have sought to make who is operating in each countryand under what name(s) much clearer. Perhaps equally importantly, our profiles make it plain whichmultinational companies are not operating in each country.In the Middle East and North Africa, we profile 17 companies. These are: AGF, AIG, Allianz, Aviva,AXA, Cardif, ERGO, Eureko, Fortis, Generali, Groupama, HSBC Insurance, Liberty Mutual,MAPFRE, RSA, UNIQA, and Zurich Financial Services. We also look at a number of the smaller local firms that are active in the region, particularly in Kuwait,Oman, Saudi Arabia and the UAE. For almost all the countries whose reports we are updating, we are also able to include actual data forcalendar 2007; this was not the case for our Q208 reports. In 2007 total premiums in the UAE rose by 32% to AED10,929 million. We estimate that Non-lifepremiums rose by 32% to AED8,749 million, while Life premiums rose by 32% to AED2,180 million. Between now and the end of the forecast period, we expect that annual Non-life premiums will grow byAED17,268 million and annual Life premiums should increase by AED4,595 million. Growth in Nonlifepremiums should be driven by the general growth in nominal GDP, plus a rise in Non-life penetrationfrom the current level of 1.33% to 2.50%. Growth in Life premiums should be driven by the change in theoverall population and a rise in life density from US$114.45 to US$250.00 per capita.BMI’s Insurance Business Environment Rating is 55.8. UAE Insurance Industry SWOT Get Full Details About This Report >> |
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