Market Research Reports, Inc. has announced the addition of “United Arab Emirates, Guatemala and Dominican Republic Insurance Report Q2 2016” research report to their website www.MarketResearchReports.com

Lewes, DE -- (SBWire) -- 03/15/2016 --The UAE's insurance sector will grow at a solid, if slowing, pace over the next five years, on the back of stable economic fundamentals and demand from the large expatriate workforce. We see the mild consolidation as a consequence of heavy competition in the sector which is putting downward pressure on premium prices. Growth will be particularly intense over 2016-2017, due in large part to a surge in health insurance premiums due to recent legislation making health insurance compulsory for foreign residents. Life insurance is less established, and again demand is primarily driven by foreign workers unable to access generous state benefits provided to nationals

Key Updates And Forecasts
- We maintain our forecasts for 2016, with the roll-out of mandatory health insurance in the UAE continuing to be the main source of premium growth. The government also recently passed a resolution that will enable emergency healthcare providers to charge insurance companies for emergency treatment in the country.
- Qatar Insurance Company (QIC) is launching in the retail (personal) non-life market, providing motor, travel and home insurance alongside the corporate products it has provided in the UAE since 1968.
- We expect premiums in the non-life market to grow by around 10.7% in 2016, to reach USD8.1bn up from USD7.3bn in 2015.
- Following a short-term contraction, premiums in the smaller life sector are expected to grow by 16.2% in 2016 to reach gross premiums written of USD2.0bn in, up from USD1.7bn in 2015.

For more information Visit at: http://www.marketresearchreports.com/business-monitor-international/united-arab-emirates-insurance-report-q2-2016

Growth will slow from recent double-digit rates to a more sustainable 7-8% over the five years to 2020. The life sector is set to outperform the non-life market, but health insurance will be the big winner in the industry overall, driven in part by inadequate public health provisions. Non-life premiums are set to reach USD1bn by 2020. Competition is high, with the fragmentation in the market hampering the profitability and scale that would allow the market to grow faster, although low incomes also harm the sector's prospects.

Key Updates And Forecasts
- The merger of PALIG and Mutual trust Holding Company is likely to see the former reduce its engagement with Central American markets, to the detriment of the life sector.
- Part-year reports suggest that the life sector underperformed expectations in 2015.
- Corruption scandals in the construction sector pose a risk to the development prospects of property insurance.

For more information Visit at: http://www.marketresearchreports.com/business-monitor-international/guatemala-insurance-report-q2-2016

The Dominican Republic's insurance market will continue to be one of the least developed in the Caribbean, with per capita premiums of just USD70.1 in the non-life sector and a paltry USD8.8 in the life market. Currency weakness will also continue to plague the dollar terms returns for many operators. Health insurance, an underdeveloped line of business, is likely to outperform our forecasts given the recent outbreak of the Zika virus.

Key Updates And Forecasts
- We note upside risk to health insurance premium growth due to the spread of the Zika virus in the Caribbean, a mosquito-transmitted infection believed to cause birth defects. Although the virus has yet to spread to Dominican Republic, the WHO expects the virus to spread to every nation in the Americas, except Canada and Chile, by end-2016.
- The US Centers for Disease Control and Prevention (CDC) has issued a travel alert encouraging women who are or could become pregnant to 'consider postponing travel to any area where Zika virus transmission is ongoing'. While we maintain our core view that visitor arrivals will continue to rise in 2016, we caution that concerns over the virus will cap arrivals growth.
- The Dominican Republic life insurance market is currently the least developed in the Caribbean, and we do not expect a significant turnaround in the medium term. Life insurance products are not attractive to Dominicans, partly because their value has yet to be sold, but also because of low levels of disposable income.

For more information Visit at: http://www.marketresearchreports.com/business-monitor-international/dominican-republic-insurance-report-q2-2016

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