Reinsurance in the UAE, Key Trends and Opportunities to 2019
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Large oil reserves and fast-growing oil production in the UAE and other GCC countries create large demand for reinsurance. UAE insurers primarily use facultative reinsurance to cover oil and gas risk, and rising oil production is expected to stimulate growth in the reinsurance segment over the forecast period.
In addition, increased minimum capital requirements for insurers in 2010, with a transition period of three years, and implementation of new risk-based solvency requirements in February 2015 led to increased capital pressure on insurers. This resulted in a significant increase in the premium ceded by life insurers. Non-life insurers lack local capacity to assume high-value risks such as aviation, and increased capital and solvency requirements tightened local capacity further.
Scope
• The UAE reinsurance segment’s growth prospects by reinsurance ceded from direct insurance
• A comprehensive overview of the UAE economy and associated demographics
• Detailed analysis of natural hazards and their impact on the UAE insurance industry
• The competitive landscape in the UAE reinsurance segment
• Historical values for the UAE reinsurance segment for the report’s 2010 to 2014 review period, and projected figures up to 2019
• A detailed analysis of the key categories in the UAE reinsurance segment, and market forecasts to 2019
• An exhaustive list of parameters in the UAE reinsurance industry, including: written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
Key Highlights
By how much did the percentage of reinsurance ceded by the UAE life insurance segment rise from 2010 to 2014?
By how much did the percentage of reinsurance ceded by the UAE non-life segment fall from 2010 to 2014?
Which key factors are projected to drive demand for reinsurance in the UAE? What is the expected CAGR in the forecast period?
Reasons to Buy
• Make strategic business decisions in the UAE reinsurance segment utilizing GlobalData’s in-depth historic and forecast market data
• Gain an overall understanding of the current UAE reinsurance market to enable you to formulate responsive sales and marketing strategies
• Evaluate the performance of key market drivers and current product propositions to identify where you might achieve the most advantageous position from your participation in the market
• Assess the overall market dynamics to position your products for maximum competitive advantage
• Investigate key regulations and other recent developments in the UAE reinsurance market to ensure you satisfy changing standards of conduct and compliance
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