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Life Report

Product Insurance Market Reports Life Rev Hong Kong

Key Highlights

Get access to Axco’s online product with the latest market intelligence for the market of your choice

 

  • Key insights and explanations of market developments in life insurance, healthcare and pensions
  • Details Yemen's insurance, social security, pensions and healthcare regulatory framework and company and personal tax considerations
  • Current legislation and upcoming changes
  • The latest developments in Yemen's economic and political environment
  • Demographic information
  • Market statistics and company performance

Report Overview

Independent strategic insight, line of business detail, regulatory information & market data for the non-life (P&C) insurance market of Yemen

The Yemen life and benefits market report provides a comprehensive, impartial analysis of the life insurance market of Yemen.  Information extends to extensive detail on healthcare (public and private), pensions and benefits, and social security. Specialist researchers visit Yemen and interview local professionals working across the local market. The report is updated with new information and data regularly throughout the cycle of country visits.

The report provides information about Yemen’s demographic profile and assesses its economic, political, climate, operational, and security risks. Key data on the investment environment in Yemen is available.

Axco’s report describes the regulatory framework that applies to the domestic life insurance sector, including whether non-admitted insurance is permitted in Yemen; as well as the legislation necessary to know regarding Yemen’s healthcare, pensions and social security.

Statistics include five years of life insurance market performance indicators, including gross written premiums, premium growth and penetration rates. Company statistics show who are the leading life insurance companies in Yemen with local life insurance company premiums, market share and year on year growth.

Life Insurance

Axco provides details on the life insurance sector including Yemen market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.

Healthcare

The report describes the public and private healthcare system in Yemen, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.

Pensions

Axco reports on the three pillars of Yemen pension provision.

  • State pension benefits including benefit calculations and eligibility criteria 
  • Workplace pension provision; types of schemes calculations eligibility and; tax implications
  • Voluntary individual pension provision, type of products and tax implications

Social Security

The Yemen report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

  • state pensions,
  • permanent disability benefit
  • occupational accident and disease
  • maternity and paternity payments 

Yemen Life and Benefits Report Extract

Below are brief extracts of information from the Yemen Life & Benefits Report; more updated information may be available in the latest published report.

Life Insurance

The life market is small. In 2018 it generated total gross premium of YER 1.76bn (USD 3.02mn), an increase of 12.61% and equivalent to 7.6% of the insurance market as a whole. 2017 saw a reduction of 15.36%

The product range in the life market is very limited ....

Pensions

There is no private pensions industry. The government administers a social security scheme, which provides retirement benefits to a small proportion of the working population. Many are excluded from the scheme, however, including those engaged in agriculture.

Healthcare

Separate statistics for private health insurance have been available since 2010 and they showed very high growth rates for the account in 2012-2014 making this class of business by far the fastest growing component of the insurance market in those years. In 2015 premium income fell by 22.0% and in 2016 it reduced by a further 0.87% but it still represented some 26.65% of total insurance premiums written in the market. The reason for the fall in premiums was the withdrawal from ....

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