New Financial Services research report from Timetric is now available from Fast Market Research

Boston, MA -- (SBWire) -- 02/07/2013 --The United Arab Emirates (UAE) is the largest insurance industry in the Gulf Corporation Council (GCC) region. The industry is highly fragmented and comprises a large number of domestic and foreign competitors, which mostly cater to the insurance requirements of expatriate population. The Dubai International Financial Centre (DIFC), an onshore free financial zone, has developed as an important hub for foreign insurance companies to access the UAE's industry. Non-life is the main segment in the industry with share of 57% of gross written premium in 2011. Over the forecast period, expansion of the non-oil sector, a rising young population, construction activity and the growth of the real estate market will support industry expansion. The introduction of compulsory health insurance has attracted the attention of the regional insurers. In Abu Dhabi, health insurance is mandatory for all expatriates and UAE nationals working or living in the emirate.

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Key Highlights

- The United Arab Emirates (UAE) is the largest insurance industry in the Gulf Corporation Council (GCC) region
- The industry is highly fragmented and comprises a large number of domestic and foreign competitors, which mostly cater to the insurance requirements of the expatriate population
- The Dubai International Financial Centre (DIFC), an onshore free financial zone, has developed as an important hub for foreign insurance companies to access the UAE's industry
- Non-life is the main segment in the industry with a 57% share of the gross written premium in 2011
- Over the forecast period, expansion of the non-oil sector, a rising young population, construction activity and the growth of the real estate market will support industry expansion
- The introduction of compulsory health insurance has attracted the attention of the regional insurers. In Abu Dhabi, health insurance is mandatory for all expatriates and UAE nationals working or living in the UAE

Scope

This report provides a comprehensive analysis of the insurance industry in UAE:

- It provides historical values for UAE insurance industry for the report's 2007-2011 review period and forecast figures for the 2011-2016 forecast period
- It offers a detailed analysis of the key segments and sub-segments in UAE insurance industry, along with forecasts until 2016
- 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 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 in the UAE insurance industry and each segment within it

Companies Mentioned in this Report: Oman Insurance Company, Abu Dhabi National Insurance Company, Arab Orient Insurance Company, Emirates Insurance Company, Al Buhaira National Insurance Co, AL Ain Ahlia Insurance Company, National General Insurance Company, AL Wathba National Insurance Co P.J.S.C, Al Sagr National Insurance Company, Dubai Insurance Company

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