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Synopsis Timetric’s 'Market Attractiveness and Future Prospects of the UAE Takaful Insurance Industry' report provides detailed analysis of the trends in the UAE takaful insurance industry. It provides values for key performance indicators (KPI) such as gross written premium, direct written premium, earned premium, claims, incurred loss, loss ratio, combined ratio, commissions and expenses, assets and investments during the review period (2009–2013) and forecast period (2013–2018). The report also analyzes distribution channels operating in the segment. The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages. Summary Timetric’s 'Market Attractiveness and Future Prospects of the UAE Takaful Insurance Industry' report provides in-depth industry analysis, information and insights into the takaful insurance industry in UAE, including: • The UAE takaful insurance industry’s growth prospects by insurance segment and category • The current trends in the UAE takaful insurance industry Scope This report provides a comprehensive analysis of the takaful insurance industry in UAE: • It provides historical values for the UAE takaful insurance industry for the report’s 2009–2013 review period, and projected figures for the 2013–2018 forecast period. • It offers a detailed analysis of the key segments and categories in the UAE takaful insurance industry, along with forecasts until 2018. • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets and total investment income. Reasons to Buy • Make strategic business decisions using in-depth historic and forecast industry data related to the UAE takaful insurance industry and each segment within it. • Understand the demand-side dynamics, key trends and growth opportunities in the UAE takaful insurance industry. • Identify the growth opportunities and market dynamics in key segments. Key Highlights • The UAE takaful industry’s gross written premium is expected to register a robust forecast-period (2013–2018) CAGR of 8.9%. • Non-life insurance is the largest segment in terms of gross written premium, and accounted for 61.4% of the overall UAE takaful industry in 2013. • GDP at current prices grew from AED935.8 billion (US$254.8 billion) in 2009 to AED1.6 trillion (US$426.1 billion) in 2013, at a review-period CAGR of 13.7%, despite declining by 17.4% in 2009 as a result of the global financial crisis. • According to UAE’s Insurance Authority (IA), there were 10 insurance companies operating in the UAE’s takaful insurance industry in 2013. • Under the new Dubai Health Insurance Law No. 11 of 2013, issued on November 24, health insurance was made compulsory in Dubai from January 2014. The law also made it mandatory for employers of low-salaried expatriate workers to provide health insurance for employees.
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