Market Research Logo

United Arab Emirates Insurance Report Q4 2017

United Arab Emirates Insurance Report Q4 2017

BMI View: The outlook is relatively bright for the life and non-life insurance sectors in the United ArabEmirates. Economic growth in the country is expected to boost demand across a range of non-life lines,though the focus will remain largely on health insurance due to compulsory cover for the large expatriateworkforce. In the life segment, innovation by the leading companies, combined with wage growth, shouldboost premiums though, again, growth will remain largely dependenton the expatriate workforce.Anticipated regulatory changes could attract more investment to the market, though the competitivelandscape is fragmented and in need of consolidation.

Key Updates And Forecasts

In August 2017, the UAE passed a new law which will allow for the introduction of value added tax(VAT) from January 1 2018. A tax of 5% will be applied to all non-life insurance products while lifeinsurance products will be exempt.


BMI Industry View
Table: Headline Insurance Forecasts (United Arab Emirates 2014-2021)
SWOT
Insurance
Industry Forecast
Life Premiums Forecast
Table: Life Premiums (United Arab Emirates 2014-2021)
Table: Life Insurance Claims (United Arab Emirates 2010-2015)
Non-Life Premiums Forecast
Table: Non-Life Premiums (United Arab Emirates 2014-2021)
Table: Non-Life Insurance Claims (United Arab Emirates 2010-2015)
Non-Life Sub-Sector Forecast
Table: Non-Life Insurance Premiums by Product Line (United Arab Emirates 2014-2021)
Industry Risk Reward Index
Middle East And North Africa Insurance Risk/Reward Index
Table: Middle East And North Africa Insurance Risk/Reward Index, Q4 2017
Market Overview
Life Market Overview
The Product Offering
The Competitive Landscape
Non-Life Market Overview
The Product Offering
The Competitive Landscape
Company Profile
Abu Dhabi National Insurance Company (ADNIC)
Alliance Insurance Company
Arig
Islamic Arab Insurance Company (Salama)
Methodology
Industry Forecast Methodology
Sector-Specific Methodology
Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report