Boston, MA -- (SBWIRE) -- 11/29/2013 -- The Yemeni insurance industry registered positive growth at a CAGR of 6.2% during the review period (2008–2012), despite uncertain political and economic conditions in the country. The personal accident and health segment registered the highest review-period CAGR of 14.9%, while the life and non-life insurance segments recorded respective CAGRs of 6.1% and 3.8%. Large infrastructure projects and favorable measures for economic development are expected to drive growth in the industry over the forecast period (2012–2017).
Demand for conventional insurance policies over the forecast period will be driven by the low insurance penetration level and the government’s initiative to encourage overseas investors by opening up the economy. Yemen is expected to gain membership to the World Trade Organization (WTO) and the Gulf Cooperation Council (GCC) over the forecast period, which will attract foreign inward investments. However, security problems in the country have been an obstacle in gaining memberships. Improvements in internal security are therefore expected over the forecast period

View Full Report Details and Table of Contents

Key Highlights

- Despite political and economic crises in the country, the Yemeni insurance industry grew at a CAGR of 6.2% during the review period
- The Yemeni insurance industry is small compared to other Middle East and North Africa (ME) countries
- The Yemeni insurance industry is supervised and regulated by the Ministry of Industry and Trade, according to the rules and regulations stipulated in the Law on Supervision and Control on Insurance and Reinsurance Companies, 2005
- Takaful insurance is rapidly gaining popularity in Muslim countries, including Yemen, and is likely to intensify competition among conventional insurance providers
- The industry is concentrated with the six leading insurers collectively accounting for 80.6% of written premiums in 2012

Scope

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

- It provides historical values for Yemeni insurance industry for the report’s 2008–2012 review period and forecast figures for the 2012–2017 forecast period
- It offers a detailed analysis of the key segments and sub-segments in Yemeni insurance industry, along with forecasts until 2017
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions
- It profiles the top insurance companies in Yemen, 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 Yemeni insurance industry and each segment within it
- Understand the demand-side dynamics, key trends and growth opportunities within the Yemeni insurance industry

Companies Mentioned in this Report: United Insurance, Trust Yemen Insurance and Reinsurance, Mareb Yemen Insurance Co., MIS - Medical Insurance Specialist, CAK Insurance, Al-Watania Insurance, Islamic Insurance, Aman Insurance , Yemen General Insurance, Yemeni Qatari Insurance

About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Insurance research reports at Fast Market Research

You may also be interested in these related reports:

- Life Insurance in Russia, Key Trends and Opportunities to 2017
- Life Insurance in Austria, Key Trends and Opportunities to 2017: The Austrian life segment's written premium fell from EUR7.4 billion in 2008 to EUR6.5 billion in 2012.
- Non-Life Insurance in France, Key Trends and Opportunities to 2017
- Non-Life Insurance in Austria, Key Trends and Opportunities to 2017: The Austrian non-life segments written premium value grew from EUR6.5 billion in 2008 to EUR7.1 billion in 2012.
- Life Insurance in France, Key Trends and Opportunities to 2017
- Life Insurance in China, Key Trends and Opportunities to 2017
- The Insurance Industry in Trinidad & Tobago, Key Trends and Opportunities to 2017
- The Insurance Industry in Ukraine, Key Trends and Opportunities to 2017
- Life Insurance in the United Kingdom, Key Trends and Opportunities to 2017
- The Insurance Industry in Jordan, Key Trends and Opportunities to 2017