发布时间：2008
摘要
This report differs from its predecessors in that it includes BMI's Insurance Business Environment Rating (IBER). The rating brings together a number of pieces of relevant quantitative data, together with BMI's Country Risk Rating (CRR). It is now much easier to consider the business environment for the insurance sector in any one country relative to the business environment for other industries in that country that are surveyed by BMI, and the business environment for the insurance sector in other countries.
The UAE's IBER is 54.7. Relative to other countries in the Middle East and Africa, it is a moderately attractive insurance market for foreign insurers. Within the region, the UAE is notable for its high percapita GDP. The economic outlook is sound, although high inflation remains a risk. Government policies are likely to remain constant over the long term. However, the IBER is held back by the underdevelopment of the life segment and the financial infrastructure. It is also held back by the legal framework and bureaucracy.
Over the forecast period, we anticipate that non-life premiums will grow by 20% annually in local currency and in US dollar terms. Life premiums are expected to increase by 20% annually in local currency and in US dollar terms. The key drivers of growth in the non-life segment in 2007-2012 will be the anticipated rise in nominal GDP from around US$186bn to US$303bn and an expected increase in non-life penetration from 1.3% of GDP to 2.0%. The key driver of growth in the life segment is an envisaged moderate rise in life density from about US$100 per capita in 2007 to US$150 per capita in 2012. The UAE's total population is growing quickly.
The competitive landscape in both the non-life and the life segment is home to a number of cross border firms. In the case of the non-life segment, seven foreign operators offer products in the UAE. Meanwhile, in the case of the life segment, three cross border firms are operative. Of these three firms, two (AXA and AIG) also offer non-life segment lines. The UAE is characterised by a very small life segment and a somewhat larger yet still small non-life segment. For both segments, the degree of openness to foreign entrants is not great, and penetration levels are small. Key strengths of the UAE's insurance sector include low long term financial risk, high GDP per capita, good odds of policy continuation, and a reasonably amenable taxation system by regional standards.
目录及图表
Chapter 1 - The Sector At A Glance
Table: UAE Insurance Sector Overview (In Millions Of Currency Specified)
Key Features Of This Report & Likely Future Changes
Chapter 2 - Latest News
Recent Developments
Chapter 3 - Evolution Since The Mid-1990s
Table: Evolution Of The UAE Insurance Sector (In Millions Of Currency Specified)
Evolution
Chapter 4 - Projections And Forecasts
Table: BMI Projections For The UAE Insurance Sector (In Millions Of Currency Specified)
Projections And Drivers Of Growth
Chapter 5 - Macroeconomic Outlook
Table: UAE Economic Indicators
Chapter 6 - Country Update
Political Risk Going Native
Economic Risk Reaping Rewards
Business Environment Financial Infrastructure Lags
Chapter 7 - Analysis Of Competitive Condition
Table: Middle East And Africa Non-Life Segment Rankings of Markets
Table: Middle East And Africa Presence Of Cross-Border Insurers Non-Life Segment
Table: Middle East And Africa Selected Local Non-Life Insurers
Country Overview UAE Life Segment
Table: Middle East And Africa Life Segment Rankings Of Markets
Table: Middle East And Africa Presence Of Cross-Border Insurers Life Segment
Table: Middle East And Africa Selected Local Life Insurers
Chapter 8 - Regional Context
Table: Middle East And Africa: Regional Context 2004 Premiums
Table: Middle East And Africa Regional Context Total Premiums 2004
Chapter 9 - Methodology And Objectives
Introduction
Background
Forecasts
Chapter 10 - Appendix
Table: Latest Estimates / Actual Figures For 2005
Table: Latest Estimates For 2010
Table: Latest Estimates For 2005-2010 (Growth In US Dollar Terms)