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Life Insurance in the UAE, Key Trends and Opportunities to 2019

Life Insurance in the UAE, Key Trends and Opportunities to 2019

Synopsis

Timetric’s 'Life Insurance in the UAE, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers and challenges in the UAE life insurance segment.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the UAE economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving 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.

Summary

Timetric’s 'Life Insurance in the UAE, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the UAE life insurance segment, including:

  • The UAE life insurance segment’s growth prospects by life insurance category
  • Key trends, drivers and challenges for the life insurance segment
  • A comprehensive overview of the UAE economy and demographics
  • The various distribution channels in the UAE life insurance segment
  • Details of the competitive landscape in the life insurance segment in the UAE
  • Details of regulatory policy applicable to the UAE insurance industry
Scope

This report provides a comprehensive analysis of the life insurance segment in the UAE:
  • It provides historical values for the UAE life insurance segment for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.
  • It offers a detailed analysis of the key categories in the UAE life insurance segment, and market forecasts to 2019.
  • It analyzes the various distribution channels for life insurance products in the UAE.
  • It profiles the top life insurance companies in the UAE, and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the UAE life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the UAE life insurance segment.
  • Assess the competitive dynamics in the life insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the UAE insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • The life segment is anticipated to post a forecast-period CAGR of 18.7%.
  • A number of demographic factors, such as a rising expatriate population, greater life expectancy, and a large working population stimulated the demand for life insurance products.
  • The segment’s distribution network was primarily dominated by agencies and direct marketing, which together accounted for 88.1% of the segment’s new business gross written premium in 2014.
  • The main growth drivers are population growth and regulatory changes, and the new regulations will help ensure the solvency of insures risk exposure.


  • Key Facts and Highlights
    • Table UAE Life Insurance - Key Facts, 2014
  • Executive Summary
  • Introduction
    • What is this Report About?
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • Economy and Demographics
    • Table UAE Government Credit Ratings
  • Life Insurance Outlook
    • Key Drivers
    • Key Trends
    • Challenges
    • Life Insurance Growth Prospects by Category
      • Table UAE Life Insurance - New Business Direct Written Premium (AED Billion), 2010-2014
      • Table UAE Life Insurance - New Business Direct Written Premium (AED Billion), 2014-2019
      • Table UAE Life Insurance - Sum Assured (AED Billion), 2010-2014
      • Table UAE Life Insurance - Sum Assured (AED Trillion), 2014-2019
      • Table UAE Life Insurance - Paid Claims (AED Billion), 2010-2014
      • Table UAE Life Insurance - Paid Claims (AED Billion), 2014-2019
      • Table UAE Life Insurance - Incurred Loss (AED Billion), 2010-2014
      • Table UAE Life Insurance - Incurred Loss (AED Billion), 2014-2019
      • Table UAE Life Insurance - Number of Policies per Capita, 2010-2014
      • Table UAE Life Insurance - Number of Policies per Capita, 2014-2019
      • Table UAE Life Insurance - Commissions and Expenses (AED Million), 2010-2014
      • Table UAE Life Insurance - Commissions and Expenses (AED Million), 2014-2019
      • Table UAE Life Insurance - Net Written Premium (% of GWP), 2010-2014
      • Table UAE Life Insurance - Net Written Premium (Percentage of Gross Written Premium), 2014-2019
      • Table UAE Life Insurance - Renewal Business Direct Written Premium (AED Billion), 2010-2014
      • Table UAE Life Insurance - Renewal Business Direct Written Premium (AED Billion), 2014-2019
      • Table UAE Life Insurance - Total Assets (AED Billion), 2010-2014
      • Table UAE Life Insurance - Total Assets (AED Billion), 2014-2019
      • Table UAE Life Insurance - Total Investment Income (AED Million), 2010-2014
      • Table UAE Life Insurance - Total Investment Income (AED Billion), 2014-2019
      • Table UAE Life Insurance - Net Written Premium (AED Billion), 2010-2014
      • Table UAE Life Insurance - Net Written Premium (AED Billion), 2014-2019
    • Individual Life Insurance
      • Total non-linked insurance business
        • Table UAE Non-Linked Insurance Business - Number of Active Policies (Thousand), 2010-2014
        • Table UAE Non-Linked Insurance Business - Number of Active Policies (Thousand), 2014-2019
        • Table UAE Non-Linked Insurance Business - Gross Written Premium (AED Billion), 2010-2014
        • Table UAE Non-Linked Insurance Business - Gross Written Premium (AED Billion), 2014-2019
        • Table UAE Non-Linked Insurance Business - Direct Written Premium (AED Billion), 2010-2014
        • Table UAE Non-Linked Insurance Business - Direct Written Premium (AED Billion), 2014-2019
  • Analysis by Distribution Channel
    • Direct Marketing
      • Table UAE Life Insurance - Direct Marketing New Business Direct Written Premium (AED Billion), 2010-2014
      • Table UAE Life Insurance - Direct Marketing New Business Direct Written Premium (AED Billion), 2014-2019
      • Table UAE Life Insurance - New Policies Sold Through Direct Marketing (Thousand), 2010-2014
      • Table UAE Life Insurance - New Policies Sold Through Direct Marketing (Thousand), 2014-2019
    • Agencies
      • Table UAE Life Insurance - Agencies' New Business Direct Written Premium (AED Billion), 2010-2014
      • Table UAE Life Insurance - Agencies' New Business Direct Written Premium (AED Billion), 2014-2019
      • Table UAE Life Insurance - New Policies Sold Through Agencies (Thousand), 2010-2014
      • Table UAE Life Insurance - New Policies Sold Through Agencies (Thousand), 2014-2019
    • Brokers
      • Table UAE Life Insurance - Brokers' New Business Direct Written Premium (AED Million), 2010-2014
      • Table UAE Life Insurance - Brokers' New Business Direct Written Premium (AED Billion), 2014-2019
      • Table UAE Life Insurance - New Policies Sold Through Brokers (Thousand), 2010-2014
      • Table UAE Life Insurance - New Policies Sold Through Brokers (Thousand), 2014-2019
  • Competitive Landscape and Strategic Insights
    • Overview
    • Leading Companies in the UAE Life Insurance Segment
      • Table Life Insurance - Segment Shares (%), 2014
      • Oman Insurance Company - company overview
        • Table Oman Insurance Company - Key Facts
        • Table Oman Insurance Company - Key Financials (AED Million), 2010-2014
      • Abu Dhabi National Insurance Company - company overview
        • Table Abu Dhabi National Insurance Company - Key Facts
        • Table Abu Dhabi National Insurance Company - Key Financials (AED Million), 2010-2014
      • Orient Insurance Company - company overview
        • Table Orient Insurance Company - Key Facts
        • Table Orient Insurance Company - Key Financials (AED Million), 2010-2014
      • Emirates Insurance Company - company overview
        • Table Emirates Insurance Company - Key Facts
        • Table Emirates Insurance Company - Key Financials (AED Million), 2010-2014
      • Al Ain Ahlia Insurance Company - company overview
        • Table Al Ain Ahlia Insurance Company - Key Facts
        • Table Al Ain Ahlia Insurance Company - Key Financials (AED Million), 2010-2014
      • Al Buhaira National Insurance Company - company overview
        • Table Al Buhaira National Insurance Company - Key Facts
        • Table Al Buhaira National Insurance Company - Key Financials (AED Million), 2010-2014
      • Union Insurance Company - company overview
        • Table Union Insurance Company - Key Facts
        • Table Union Insurance Company - Key Financials (AED Million), 2010-2014
      • National General Insurance Company - company overview
        • Table National General Insurance Company - Key Facts
        • Table National General Insurance Company - Key Financials (AED Million), 2010-2014
      • Al Wathba National Insurance Company - company overview
        • Table Al Wathba National Insurance Company - Key Facts
        • Table Al Wathba National Insurance Company - Key Financials (AED Million), 2010-2014
      • Al Sagr National Insurance Company - company overview
        • Table Al-Sagr National Insurance Company - Key Facts
        • Table Al-Sagr National Insurance Company - Key Financials (AED Million), 2010-2014
  • Governance, Risk and Compliance
    • Table UAE - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulations
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table UAE - Life Insurance Regulatory Framework
      • Property insurance
        • Table UAE - Property Insurance Regulatory Framework
      • Motor insurance
        • Table UAE - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table UAE - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third-party liability insurance
      • Health insurance
      • Medical liability insurance
    • Supervision and Control
      • International Association of Insurance Supervisors
      • Insurance Authority
      • Dubai Financial Services Authority
      • Emirates Insurance Association
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and penalties
    • Company Registration and Operations
      • Types of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margins
      • Reserve requirements
      • Investment regulations
        • Table UAE - Maximum Limits for Investments in Various Assets by Insurers
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution (ADR)
  • Appendix
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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