Non Life Insurance Sector Set to Post Double Digit Growth in UAE

According to our new research report “UAE Insurance Market Forecast to 2012”, UAE insurance industry has shown noteworthy growth during the past few years. High growth in the non life insurance sector is propelling growth in the overall insurance industry. The non life insurance segment comprises accident and liability insurance, fire insurance, marine, aviation & inland and transport insurance, and medical insurance. Our research report forecasts that, the non life insurance sector will report growth across all the segments and will grow at the CAGR of 12% during 2011-2014.

 

As per our research, the government is taking several initiatives to transform the non life insurance segment. To boost the medical insurance segment, government made health insurance mandatory in Abu Dhabi and has also proposed to expand health insurance compulsion all over the UAE. Moreover, to perform according to the current need and demand of the UAE insurance industry, insurance companies are introducing numerous insurance policies. Further, various other factors, such as low insurance penetration rate, strong country’s demographics, and high expatriate population will drive the UAE insurance industry.

 

We have done an extensive research on the UAE insurance industry to identify the emerging trends and growth factors. For instance, initiative to boost oil & gas insurance, business augmentation, introduction of the new diverse products, consolidation in the industry are the major factors that will drive the insurance industry in future.

 

Besides, our report “UAE Insurance Market Forecast to 2012”, provides detail study on various segment of the insurance market in UAE. For the purpose of this report, the market is classified into life insurance and non life insurance. Each segment has been thoroughly analyzed for the current market performance and future outlook to 2014. The report has also identified major insurance industry hurdles, such as corporate governance and shortage of skilled professionals. Further, the report discusses government regulations and the competitive landscape of the industry. The report has identified all the pros and corns of the industry and will help clients to take appropriate decision about the UAE insurance industry.

For more information visit: http://www.rncos.com/Report/IM023.htm