"United Arab Emirates Insurance Report Q2 2015" is now available at Fast Market Research

From: Fast Market Research, Inc.
Published: Sat Apr 25 2015

The ins urance market in the UAE is recording very positive growth rates, benefiting from the expansion of the robust domestic economy and an improving regulatory environment. Health insurance continues to be the driver of premium growth, and in most other sectors the insurance market remains underdeveloped. As a fragmented market, we would expect to see opportunities arise for consolidations and acquisitions as the insurance sector in the UAE develops.

2015 is expected to be a highly positive year for the insurance industry in the UAE. The Insurance Authority has released new regulations governing investment and reporting requirements which will help to improve investor confidence. The country is also expected to record healthy GDP growth of 4% with a boost to household consumption which will drive demand for non-life products including the dominant health insurance line. We expect total premiums to increase by 15% in 2015, bring the value of total premiums written to USD10.6bn.

Full Report Details at
- http://www.fastmr.com/prod/980213_united_arab_emirates_insurance_report_q2_2015.aspx?afid=301

Throughout the remainder of the forecast period we expect the UAE to retain its position as the dominant regional insurance market. The expanding expatriate community, for whom health insurance is compulsory, will drive demand for both non-life (predominantly health) insurance products and life products. One trend which is likely to emerge is for consolidation amongst the many smaller insurance providers who may not meet new solvency requirements on a stand-alone basis.

Despite these growth expectations the insurance market in the UAE remains underdeveloped by some metrics. The life insurance sector in particular has low penetration (premiums as a percentage of GDP) and density (premiums per capita) and there is limited awareness of, or demand for, traditional life products. The introduction of more tailored products, including t akaful products, could therefore provide opportunities for growth. Although the UAE's population is small, households are relatively wealthy and do...

The United Arab Emirates Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's United Arab Emirates Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Emirati insurance industry.

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You may also be interested in these related reports:

- United States Insurance Report Q2 2015
- United Arab Emirates Commercial Banking Report Q2 2015
- United Kingdom Insurance Report Q2 2015
- United Arab Emirates Pharmaceuticals & Healthcare Report Q2 2015
- United Arab Emirates Retail Report Q2 2015

Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001

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