United Arab Emirates Insurance Report - Business Monitor International - Industry Reports

United Arab Emirates Insurance Report

United Arab Emirates Insurance Report - Business Monitor International - Industry Reports
United Arab Emirates Insurance Report
Published Sep 10, 2016
51 pages — Published Sep 10, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

� Business Monitor International Ltd Page -- the majority of whom have no intention of retiring in the UAE. Among the small national population, the life expectancy is just over -- years and is rising, which would indicate higher demand for retirement and other later-in-life savings products. ...The UAE presents an extremely affluent potential consumer base with only a very low share of households falling into the lower income brackets. While the impact of low oil prices on the Emirati economy is slowing growth in household incomes and the development of the kind of middle-class households that would be seen as the prime market for life insurance, most households already fall into the key income brackets (USD--,--- to USD--,--- and USD--,--- plus). We also expect the economy and the development of household incomes to return to meaningful growth around ----, helping to boost the fortunes of the life insurance sector. ...We also expect the economy and the development of household incomes to return to meaningful growth around ----, helping to boost the fortunes of the life insurance sector. We do not expect, however, the large number of unskilled migrant workers to share significantly in this income growth or increase their use of life insurance products.

...Life insurance in the UAE predominantly involves the sale of life insurance and other long-term savings solutions by large international companies such as MetLife, Zurich International Life and FPI International to comparatively wealthy expatriates. The expatriates are typically performing (reasonably) senior roles in the corporate or government sectors and are overwhelmingly from the UK or South Asia. The insurance offerings are generally distributed via financial advisers. Many of the advisers operate in a similar way to their counterparts in the UK - and, indeed, often belong to firms who comply with the requirements of the UK s Retail Distribution Review (RDR). Many of the insurers incorporate mutual funds that are provided by international asset management companies in their offerings. ...Another third of mutual funds are distributed directly to advisers or are sold through platforms of private banks and other organisations that are not affiliated with the insurers. The composition of the life sector is unlikely to change substantially over the longer term, with limited demand for life products among the resident population leaving growth dependent upon the growing number of expatriate workers.

...We expect gross life premiums written in the UAE to expand by --.- to USD-.-bn in ---- following a contraction of --.- in ----. We view the ---- performance as a temporary correction (albeit a very steep one) to a long-term trend after unsustainably strong growth in ---- and ----. ...

  
Source:
Document ID
1750-5798
Country
Industry
Format:
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "United Arab Emirates Insurance Report" Sep 10, 2016. Alacra Store. Dec 08, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/United-Arab-Emirates-Insurance-Report-2026-486>
  
APA:
Business Monitor International - Industry Reports. (2016). United Arab Emirates Insurance Report Sep 10, 2016. New York, NY: Alacra Store. Retrieved Dec 08, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/United-Arab-Emirates-Insurance-Report-2026-486>
  
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