Boston, MA -- (SBWIRE) -- 04/25/2014 -- The United Arab Emirates (UAE) has the largest insurance industry in the Gulf Cooperation Council (GCC) region. The gross written premium registered by the industry increased at a review-period (2008-2012) compound annual growth rate (CAGR) of 9.5%. This is further expected to rise at a CAGR of 10.1%. As of December 2012, there were 61 insurers operating in the Emirati insurance industry, of which 34 were national companies and 27 were foreign. The non-life insurance segment accounted for the highest value of gross written premium in the industry. Foreign insurers are permitted to own a maximum stake of 25% in an Emirati insurer. Emirati insurers cede considerable proportions of their premiums to reinsurers; national insurers ceded 44.7% of their property and liability insurance premium to reinsurers in 2012. Brokers and agents are the principal distribution channels in the industry.
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- The United Arab Emirates (UAE) has the largest insurance industry in the Gulf Cooperation Council (GCC) region
- The nation's real estate market is expanding and, along with the infrastructure projects, will be a significant driver of the property insurance category
- There are a total of 61 insurers and two reinsurers operating in the UAE's insurance industry in 2012
- In 2008, the regulator stopped issuing licenses for new foreign insurers to establish their branches in the country
- The Insurance Authority stipulated in 2010 that all UAE insurers were required to have a minimum subscribed or paid-up capital of AED100 (US$27.2 million)
- Publicly listed insurers dominated the country's insurance industry"
This report provides a comprehensive analysis of the insurance industry in the UAE:
- It provides historical values for the the UAE insurance industry for the report's 2008-2012 review period and projected figures for the 2012-2017 forecast period.
- It offers a detailed analysis of the key segments and categories in the the UAE insurance industry, along with forecasts until 2017.
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions.
- It profiles the top insurance companies in the UAE, and outlines the key regulations affecting them."
Reasons to Get this Report
- Make strategic business decisions using in-depth historic and forecast industry data related to the the UAE insurance industry and each segment within it.
- Understand the demand-side dynamics, key trends and growth opportunities within the the UAE insurance industry.
- Assess the competitive dynamics in the the UAE insurance industry.
- Identify the growth opportunities and market dynamics within key segments.
Companies Mentioned in this Report: Oman Insurance Company PSC, Orient Insurance Company (PJSC), Abu Dhabi National Insurance Company, Emirates Insurance Company, National Insurance Company (PSC), Al-Buhaira National Insurance Company, Ras Al Khaimah National Insurance Company PSC,
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