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UAE Life Insurance Market To Exhibit 18.70% CAGR From 2014 To 2019 Owing To Growing Expatriate Population

Press Release   •   Feb 10, 2017 15:56 IST

A new market research report has been recently included by MarketResearchReports.biz in its huge database of research studies. The research report, titled “Life Insurance in the UAE, Key Trends and Opportunities To 2019,” presents a detailed analysis of the UAE life insurance market, elaborating on the market drivers, opportunities, restraints, challenges, and current market trends. In addition, the product segmentation and competitive landscape of the UAE life insurance market have been further discussed in the research report.

The research report also offers data about some of the key performance indicators such as total investment income, retentions, written premium, incurred loss, total assets, loss ratio, and commissions and expenses for the UAE life insurance market throughout the forecast period. According to the research report, the UAE life insurance market is expected to exhibit a progressive 18.70% CAGR between 2014 and 2019. The report presents historical data and forecast figures with the help of tables, charts, and infographics. The valued inputs and strategic recommendations by industry experts and professionals help the major players in the UAE life insurance market in designing their business strategies efficiently.

Some of the major factors that are expected to boost the demand for life insurance products are the growing expatriate population, growing working population, and greater life expectancy. The research study has divided the UAE life insurance market on the basis of distribution channel into brokers, direct marketing, and agencies. Among these channels, in 2014, direct marketing and agencies collectively dominated the market, holding an 88.1% share in the UAE life insurance market.

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On the basis of type, the UAE life insurance market has been classified into marine, aviation and transit insurance, liability insurance, life insurance, property insurance, motor insurance, and personal accident and health insurance. Some of the insurance products that are compulsory in the UAE are medical liability insurance, motor third party liability insurance, and health insurance. The market estimates and shares of each segment have been further discussed in the research report.

The supervision and control authorities of the life insurance market in the UAE are Dubai Financial Services Authority, International Association of Insurance Supervisors, Emirates Insurance Association, and Insurance Authority. Details of the regulatory policies are further elaborated upon in the research study.

The competitive landscape of the life insurance market in the UAE includes a comprehensive analysis of the major players operating in the market, focusing on the company overview, products offered, business strategies, financial overview, and recent developments. Some of the prominent players operating in the UAE life insurance market are Al Ain Ahlia Insurance Company, Orient Insurance Company, Al Buhaira National Insurance Company, Abu Dhabi National Insurance Company, National General Insurance Company, Al Sagr National Insurance Company, Emirates Insurance Company, Oman Insurance Company, Al Wathba National Insurance Company, and Union Insurance Company.

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