United Arab Emirates (UAE) Non-Life Insurance Market Summary, Competitive Analysis and Forecast to 2027
Summary
Non-Life Insurance in United Arab Emirates industry profile provides top-line qualitative and quantitative summary information including: market size (value 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- The non-life insurance market consists of the general insurance market segmented into motor, property, liability and other insurance. The other segment is made up of non-life insurance products including health, travel, and accident cover among others. The value of the non-life insurance market is shown in terms of gross premium incomes. Gross premium income is defined as the insurer’s premium income for the year from its policies, calculated without reduction for reinsurance premiums paid or payable by the insurer.
- The Emirati non-life insurance market had total gross written premiums of $10.4 billion in 2022, representing a compound annual growth rate (CAGR) of 1.7% between 2017 and 2022.
- The Motor segment accounted for market's the largest proportion in 2022, with total gross written premiums of $3.4 billion, equivalent to 32.5% of the market's overall value.
- The United Arab Emirates non-life insurance market showed a strong recovery in 2021 and 2022, following the decline in 2019 and 2020, due to COVID-19. As a result of inflation going to drive up insurance clients' expenses in the UAE, the cost of claims for non-life insurance companies will rise.
- Save time carrying out entry-level research by identifying the size, growth, and leading players in the non-life insurance market in United Arab Emirates
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the non-life insurance market in United Arab Emirates
- Leading company profiles reveal details of key non-life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the United Arab Emirates non-life insurance market with five year forecasts
- What was the size of the United Arab Emirates non-life insurance market by value in 2022?
- What will be the size of the United Arab Emirates non-life insurance market in 2027?
- What factors are affecting the strength of competition in the United Arab Emirates non-life insurance market?
- How has the market performed over the last five years?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Category segmentation
- 1.4. Geography segmentation
- 1.5. Market share
- 1.6. Market rivalry
- 1.7. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 4 Market Segmentation
- 4.1. Category segmentation
- 4.2. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Market share
- 7.2. Who are the leading players?
- 7.3. What strategies do leading players follow?
- 7.4. What has been the rationale behind recent M&A activity?
- 7.5. How has the COVID-19 outbreak impacted the market?
- 8 Company Profiles
- 8.1. Abu Dhabi National Insurance Company PSC
- 8.2. Al Ain Ahlia Insurance Company PSC
- 8.3. Orient Insurance Company PJSC
- 8.4. Oman Insurance Co PSC
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. About MarketLine
- List of Tables
- Table 1: United Arab Emirates non-life insurance market value: $ billion, 2017-22(e)
- Table 2: United Arab Emirates non–life insurance market category segmentation: % share, by value, 2017–2022(e)
- Table 3: United Arab Emirates non-life insurance market category segmentation: $ billion, 2017-2022
- Table 4: United Arab Emirates non–life insurance market geography segmentation: $ billion, 2022(e)
- Table 5: United Arab Emirates non-life insurance market value forecast: $ billion, 2022-27
- Table 6: United Arab Emirates non-life insurance market share: % share, by value, 2022(e)
- Table 7: Abu Dhabi National Insurance Company PSC: key facts
- Table 8: Abu Dhabi National Insurance Company PSC: Annual Financial Ratios
- Table 9: Abu Dhabi National Insurance Company PSC: Key Employees
- Table 10: Al Ain Ahlia Insurance Company PSC: key facts
- Table 11: Al Ain Ahlia Insurance Company PSC: Annual Financial Ratios
- Table 12: Al Ain Ahlia Insurance Company PSC: Key Employees
- Table 13: Orient Insurance Company PJSC: key facts
- Table 14: Orient Insurance Company PJSC: Key Employees
- Table 15: Oman Insurance Co PSC: key facts
- Table 16: Oman Insurance Co PSC: Annual Financial Ratios
- Table 17: Oman Insurance Co PSC: Key Employees
- Table 18: United Arab Emirates size of population (million), 2018–22
- Table 19: United Arab Emirates gdp (constant 2005 prices, $ billion), 2018–22
- Table 20: United Arab Emirates gdp (current prices, $ billion), 2018–22
- Table 21: United Arab Emirates inflation, 2018–22
- Table 22: United Arab Emirates consumer price index (absolute), 2018–22
- Table 23: United Arab Emirates exchange rate, 2017–21
- List of Figures
- Figure 1: United Arab Emirates non-life insurance market value: $ billion, 2017-22(e)
- Figure 2: United Arab Emirates non-life insurance market category segmentation: $ billion, 2017-2022
- Figure 3: United Arab Emirates non–life insurance market geography segmentation: % share, by value, 2022(e)
- Figure 4: United Arab Emirates non-life insurance market value forecast: $ billion, 2022-27
- Figure 5: Forces driving competition in the non-life insurance market in United Arab Emirates, 2022
- Figure 6: Drivers of buyer power in the non-life insurance market in United Arab Emirates, 2022
- Figure 7: Drivers of supplier power in the non-life insurance market in United Arab Emirates, 2022
- Figure 8: Factors influencing the likelihood of new entrants in the non-life insurance market in United Arab Emirates, 2022
- Figure 9: Factors influencing the threat of substitutes in the non-life insurance market in United Arab Emirates, 2022
- Figure 10: Drivers of degree of rivalry in the non-life insurance market in United Arab Emirates, 2022
- Figure 11: United Arab Emirates non-life insurance market share: % share, by value, 2022(e)
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