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

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

Synopsis

Timetric’s 'Non-Life Insurance in the UAE, Key Trends and Opportunities to 2019' report provides a detailed outlook by product category for the UAE non-life insurance segment, and a comparison of the UAE insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, 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, explains the various types of natural hazard and their impact on the UAE insurance industry, 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 'Non-Life Insurance in the UAE, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the UAE non-life insurance segment, including:

  • The UAE non-life insurance segment’s detailed outlook by product category
  • A comprehensive overview of the UAE economy and demographics
  • A comparison of the UAE insurance industry with its regional counterparts
  • Detailed analysis of natural hazards and their impact on the UAE insurance industry
  • Details of the competitive landscape in the non-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 non-life insurance segment in the UAE:
  • It provides historical values for the UAE non-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 non-life insurance segment, and market forecasts to 2019.
  • It profiles the top non-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 non-life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the UAE non-life insurance segment.
  • Assess the competitive dynamics in the non-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 UAE non-life segment registered growth of 1.1% during the review period.
  • Property insurance was the largest category in terms of gross written premium, and accounted for 43.1% of the segment’s gross written premiums in 2014.
  • The motor gross written premium recorded a review-period CAGR of 4.0%.
  • Due to a lack of awareness and enforcement laws and a limited number of compulsory liability classes, growth in the category is expected to be low.
  • The slowdown in oil exports and a decline in international oil prices affected the marine insurance sub-category.


  • Key Facts and Highlights
    • Table UAE Non-Life Insurance - Key Facts, 2014
    • Table UAE Non-Life Insurance - Segment Shares of the Top Insurers, 2014
  • Executive Summary
  • Economy and Demographics
    • Table UAE Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table UAE Non-Life Insurance - Gross Written Premium (AED Billion and US$ Billion), 2010-2014
        • Table UAE Non-Life Insurance - Penetration (%), 2010-2014
        • Table UAE Non-Life Insurance - Gross Written Premium (AED Billion and US$ Billion), 2014-2019
        • Table UAE Non-Life Insurance - Penetration (%), 2014-2019
        • Table UAE Non-Life Insurance - Premium per Capita (AED and US$), 2010-2014
        • Table UAE Non-Life Insurance - Premium per Capita (AED and US$), 2014-2019
      • Policies sold
        • Table UAE Non-Life Insurance - Number of Policies Sold (Thousand), 2010-2014
        • Table UAE Non-Life Insurance - Number of Policies Sold (Thousand), 2014-2019
      • Claims
        • Table UAE Non-Life Insurance - Paid Claims (AED Billion and US$ Billion), 2010-2014
        • Table UAE Non-Life Insurance - Paid Claims (AED Billion and US$ Billion), 2014-2019
      • Profitability
        • Table UAE Non-Life Insurance - Profitability Ratio (%), 2010-2014
        • Table UAE Non-Life Insurance - Profitability Ratio (%), 2014-2019
      • Assets and investments
        • Table UAE Non-Life Insurance - Total Assets (AED Billion and US$ Billion), 2010-2014
        • Table UAE Non-Life Insurance - Total Assets (AED Billion and US$ Billion), 2014-2019
        • Table UAE Non-Life Insurance - Total Investment Income (AED Billion and US$ Billion), 2010-2014
        • Table UAE Non-Life Insurance - Total Investment Income (AED Billion and US$ Billion), 2014-2019
        • Table UAE Non-Life Insurance - Investment Portfolio (AED Billion), 2010-2014
        • Table UAE Non-Life Insurance - Investment Portfolio (AED Billion), 2014-2019
  • Outlook by Category
    • Table UAE Non-Life Insurance - Gross Written Premium by Category (AED Billion), 2010-2014
    • Table UAE Non-Life Insurance - Gross Written Premium by Category (AED Billion), 2014-2019
    • Property Insurance
      • Product overview
      • Premium
        • Table UAE Property Insurance - Gross Written Premium by Sub-Category (AED Billion), 2010-2014
        • Table UAE Property Insurance - Gross Written Premium by Sub-Category (AED Billion), 2014-2019
      • Policies
        • Table UAE Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2010-2014
        • Table UAE Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2014-2019
      • Claims
        • Table UAE Property Insurance - Paid Claims (AED Million and US$ Million), 2010-2014
        • Table UAE Property Insurance - Paid Claims (AED Million and US$ Million), 2014-2019
      • Profitability
        • Table UAE Property Insurance - Loss Ratio (%), 2010-2014
        • Table UAE Property Insurance - Loss Ratio (%), 2014-2019
    • Motor Insurance
      • Product overview
      • Premium
        • Table UAE Motor Insurance - Gross Written Premium by Sub-Category (AED Billion), 2010-2014
        • Table UAE Motor Insurance - Gross Written Premium by Sub-Category (AED Billion), 2014-2019
      • Policies
        • Table UAE Motor Insurance - Number of Policies Sold by Sub-Category (Million), 2010-2014
        • Table UAE Motor Insurance - Number of Policies Sold by Sub-Category (Million), 2014-2019
      • Claims
        • Table UAE Motor Insurance - Paid Claims (AED Billion and US$ Billion), 2010-2014
        • Table UAE Motor Insurance - Paid Claims (AED Billion and US$ Billion), 2014-2019
      • Profitability
        • Table UAE Motor Insurance - Loss Ratio (%), 2010-2014
        • Table UAE Motor Insurance - Loss Ratio (%), 2014-2019
    • Liability Insurance
      • Product overview
      • Premium
        • Table UAE Liability Insurance - Gross Written Premium (AED Million), 2010-2014
        • Table UAE Liability Insurance - Gross Written Premium (AED Million), 2014-2019
      • Policies
        • Table UAE Liability Insurance - Number of Policies Sold (Thousand), 2010-2014
        • Table UAE Liability Insurance - Number of Policies Sold (Thousand), 2014-2019
      • Claims
        • Table UAE Liability Insurance - Paid Claims (AED Billion and US$ Billion), 2010-2014
        • Table UAE Liability Insurance - Paid Claims (AED Billion and US$ Billion), 2014-2019
      • Profitability
        • Table UAE Liability Insurance - Loss Ratio (%), 2010-2014
        • Table UAE Liability Insurance - Loss Ratio (%), 2014-2019
    • Marine, Aviation and Transit Insurance
      • Product overview
      • Premium
        • Table UAE Marine, Aviation and Transit Insurance - Gross Written Premium (AED Billion), 2010-2014
        • Table UAE Marine, Aviation and Transit Insurance - Gross Written Premium (AED Billion), 2014-2019
      • Policies
        • Table UAE Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2010-2014
        • Table UAE Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2014-2019
      • Claims
        • Table UAE Marine, Aviation and Transit Insurance - Paid Claims (AED Million and US$ Million), 2010-2014
        • Table UAE Marine, Aviation and Transit Insurance - Paid Claims (AED Million and US$ Million), 2014-2019
      • Profitability
        • Table UAE Marine, Aviation and Transit Insurance - Loss Ratio (%), 2010-2014
        • Table UAE Marine, Aviation and Transit Insurance - Loss Ratio (%), 2014-2019
  • Distribution Channel Outlook
    • Analysis by Distribution Channel
      • Table UAE Non-Life Insurance - Direct Written Premium by Distribution Channel (AED Billion), 2010-2014
      • Table UAE Non-Life Insurance - Direct Written Premium by Distribution Channel (AED Billion), 2014-2019
      • Table UAE Non-Life Insurance - Percentage of Direct Written Premium Ceded, by Distribution Channel, 2010-2019
      • Agencies
      • Brokers
      • Direct marketing
  • Natural Hazards
    • Earthquakes
    • Floods
    • Exposure
  • Competitive Landscape
    • Leading Companies in the UAE Non-life segment
      • Table UAE 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)
  • Databook
    • Policies and Premium
      • Table UAE Insurance Industry - Policies and Premium, 2010-2014
      • Table UAE Insurance Industry - Policies and Premium, 2014-2019
      • Table UAE Non-Life Insurance - Policies and Premium, 2010-2014
      • Table UAE Non-Life Insurance - Policies and Premium, 2014-2019
      • Table UAE Non-Life Insurance - Property Insurance Policies and Premium, 2010-2014
      • Table UAE Non-Life Insurance - Property Insurance Policies and Premium, 2014-2019
      • Table UAE Non-Life Insurance - Motor Insurance Policies and Premium, 2010-2014
      • Table UAE Non-Life Insurance - Motor Insurance Policies and Premium, 2014-2019
      • Table UAE Non-Life Insurance - Liability Insurance Policies and Premium, 2010-2014
      • Table UAE Non-Life Insurance - Liability Insurance Policies and Premium, 2014-2019
      • Table UAE Non-Life Insurance - Marine, Aviation and Transit Insurance Policies and Premium, 2010-2014
      • Table UAE Non-Life Insurance - Marine, Aviation and Transit Insurance Policies and Premium, 2014-2019
      • Table UAE Non-Life Insurance - Gross Written Premium by Sub-Category (AED), 2010-2014
      • Table UAE Non-Life Insurance - Gross Written Premium by Sub-Category (AED), 2014-2019
      • Table UAE Non-Life Insurance - Direct Written Premium by Sub-Category (AED), 2010-2014
      • Table UAE Non-Life Insurance - Direct Written Premium by Sub-Category (AED), 2014-2019
      • Table UAE Non-Life Insurance - Penetration by Sub-Category (%), 2010-2014
      • Table UAE Non-Life Insurance - Penetration by Sub-Category (%), 2014-2019
      • Table UAE Non-Life Insurance - Number of Active Policies by Sub-Category (Thousand), 2010-2014
      • Table UAE Non-Life Insurance - Number of Active Policies by Sub-Category (Thousand), 2014-2019
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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