Middle East Health Insurance Market: Trends & Opportunities (2015-2019) – Daedal Research

DELHI, India - April 8, 2015 - PRLog -- The report covers major GCC countries including UAE, Saudi Arabia, Qatar, Kuwait, Oman and Bahrain. The report assesses the market sizing and growth of GCC countries, the growth drivers of health insurance industry in these regions and various trends. The report assesses the market sizing, growth and segmentation on various parameters, the distribution structure and capabilities of the industry leaders. The report also discusses key factors driving growth of the industry, major trends and challenges faced by major players in the Middle East countries. Further, key players like Abu Dhabi National Insurance Company, Bupa Arabia, Bahrain National Holding Company, Dhofar Insurance Company, Gulf Insurance and Reinsurance Company and Qatar General Insurance and Reinsurance Company are profiled in the report.

Country Coverage

UAE Health insurance industry
Saudi Arabia Health insurance industry
Qatar Health insurance industry
Kuwait Health insurance industry
Oman Health insurance industry
Bahrain Health insurance industry

Company Coverage

Abu Dhabi National Insurance Company
Bupa Arabia
Bahrain National Holding Company
Dhofar Insurance Company
Gulf Insurance and Reinsurance Company
Qatar General Insurance and Reinsurance Company

Executive Summary

Health insurance is becoming an important segment of the non-life insurance industry in the Middle Eastern region. The major force behind the industry’s strength in recent years has been the implementation of compulsory health insurance schemes in various jurisdictions.

UAE and Saudi Arabia are the fastest growing health insurance markets in the GCC countries. A reasonable size of population, largely composed of expatriates and a receptive local community, makes the UAE and Saudi Arabia the largest insurance market in the Gulf. A combination of factors such as demographics, interest rate fluctuations, government spending and regulations, and economic growth all affect health insurance industry dynamics highly. Better health care facilities along with increasing spending on health care are favoring the growth of health insurance industry. Per capita income and GDP is increasing which aids in payment of rising premium amount. Along with this, increased awareness and individuals’ sense of health protection drives health care spending.

However with immense growth opportunities in the Middle East countries, the health insurance market faces challenges in terms of rising premium costs, inadequate regulatory regulations, and cyber risk mismanagement. Increased competition, huge government need, interest rate fluctuations are few other bottlenecks in the growth of the industry.

Table of Contents:

1. Executive Summary

2. Health Insurance: An Introduction

2.1 Overview of Health Insurance

2.2 Ways of Getting Health Insurance

2.2.1 Group Health Insurance

2.2.2 Individual Health Insurance

2.3 Channels of Purchase

3. Middle East Health Insurance Market: An Analysis

3.1 Middle East: Life & Non-Life Insurance Composition

3.2 Middle East Health Insurance Market: Size & Growth

4. UAE Health Insurance Market: An Analysis

4.1 Market Sizing and Growth: Actual and Forecast

4.2 Distribution Channels of UAE Health Insurance Market

4.3 Growth Drivers of Health Insurance

4.3.1 Rising GDP

4.3.2 Rising Deaths – Non Communicable Diseases

4.3.3 Regulatory Elements in the UAE

5. Saudi Arabia Health Insurance Market: An Analysis

5.1 Market Sizing and Growth: Actual and Forecast

5.2 Growth Drivers

5.2.1 Favorable Demographics

5.2.2 Compulsory Lines in Saudi Arabia

5.2.3 Growing Awareness

6. Qatar Health Insurance Market: An Analysis

6.1 Market Sizing and Growth: Actual and Forecast

6.2 Growth Drivers

6.2.1 The Economic Factor

6.2.2 Increasing Senior Citizen Population

6.2.3 Higher incidence of lifestyle diseases

7. Kuwait Health Insurance Market: An Analysis

7.1 Market Sizing and Growth: Actual and Forecast

7.2 Growth Drivers

7.2.1 GDP-Impetus to Growth

7.2.2 Increasing Insurance Penetration

7.2.3 Rising Health Expenditure

8. Oman Health Insurance Market: An Analysis

8.1 Market Sizing and Growth: Actual and Forecast

8.2 Growth Drivers

8.1.1 Increasing Income

8.1.2 Increased Mortality Rates

9. Bahrain Health Insurance Market: An Analysis

9.1 Market Sizing and Growth: Actual and Forecast

9.2 Growth Drivers of Health Insurance Market in Bahrain

9.2.1 Growing GDP

9.2.2 Rising Health Expenditure

10. Market Dynamics: GCC Health Insurance Industry

10.1 Growth Drivers: Middle East Health Insurance Industry

10.1.1 Increasing trauma of Fatal Disease

10.1.2 Economic Development

10.1.3 Rising Health Care Spending

10.1.4 Growing and Aging Population

10.2 Market Trends: Middle East Health Insurance Industry

10.2.1 Life Cycle Change

10.2.2 New IT Capabilities

10.2.3 Interest rate fluctuations

10.2.4 Insurance Regulation

10.3 Challenges: Middle East Health Insurance Industry

10.3.1 Rising Premiums Costs

10.3.2 Government need

10.3.3 Cyber Risk Mismanagement

10.3.4 Rigorous Competition

11. Competitive Landscape: Middle East Health Insurance Industry

12. Company Profiles: Middle East Health Insurance Industry

12.1 Abu Dhabi National Insurance Company

12.1.1 Business Description

12.1.2 Financial Overview

12.1.3 Business Strategies

12.2 Bupa Arabia

12.2.1 Business Description

12.2.2 Financial Overview

12.2.3 Business Strategies

12.3 Bahrain National Holding Company

12.3.1 Business Description

12.3.2 Financial Overview

12.3.3 Business Strategies

12.4 Dhofar Insurance Company

12.4.1 Business Description

12.4.2 Financial Overview

12.4.3 Business Strategies

12.5 Gulf Insurance and Reinsurance Company

12.5.1 Business Description

12.5.2 Financial Overview

12.5.3 Business Strategies

12.6 Qatar General Insurance and Reinsurance Company

12.6.1 Business Description

12.6.2 Financial Overview

12.6.3 Business Strategies

List of Figures:

Figure 1: Fastest growing distribution channels (no. of mentions)
Figure 2: Size and Composition of the GCC Non-Life Direct Insurance Market- GWP, (In US$ Billions), 2009- 2013
Figure 3: Breakdown of Life and Non-life Insurance Segments in the GCC, 2009-2013
Figure 4: Market Size of Health Insurance in Middle Eastern countries countries1 - GWP (In US$ Billions), 2009-2013
Figure 5: Forecasted Market Size of Health Insurance in Middle Eastern countries- GWP (In US$ Billions), 2014-2019
Figure 6: Market Size of Health Insurance in UAE Market - GWP (In US$ Billions),2009-2013
Figure 7: Forecasted Market Size of Health Insurance in UAE Market - GWP(In US$ Billions), 2014-2019

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