Insurance market reports are produced following a country visit with interviews with professionals working in the sector with systematic updates to information throughout the cycle. Covering market developments, macroeconomic factors and comprehensive details of the regulatory environment including relevant taxation as well as market indicators and company statistics.
Axco’s Yemen Non-Life Insurance Market Report (P&C) also comprises a detailed analysis of lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers’ liability and liability.
The Life & Benefits Report for Yemen includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics
Real GDP growth (%)
Insurance Penetration (%)
Aden (de facto)
Sana’a (de jure)
The Republic of Yemen is located in the southern corner of the Arabian Peninsula, bordered by Saudi Arabia to the north, Oman to the east, the Gulf of Aden and the Arabian Sea to the south and the Red Sea to the west
In 2018, the market's non-life insurance premium volume was YER 12.53bn, an increase of 9.08% from 2017. Personal accident business is a non-life class; it is small but its statistics are not separately recorded. Private medical insurance generated a gross market premium income in 2017 of YER 5.60bn.
In 2018, of the 13 insurance companies active in the market, 12 wrote non-life business, 11 transacted life business and 11 wrote health business. One company (headquartered in Aden) is currently inactive. Several companies have opened "takaful windows" within conventional insurance companies in recent years and one transacts all of its non-life and life business according to Islamic principles.