Motor Insurance to Propel KSA Insurance Sector

According to our latest report “Saudi Arabia Insurance Market to 2012”, Saudi Arabian insurance industry has emerged as one of the fastest growing insurance industries across the world. Despite the global economic slowdown and weak market sentiments, the insurance industry in the Kingdom attained significant growth in 2009; especially motor insurance sector saw notable growth results and uplifted the overall industry outlook. The report further reveals that motor insurance sector will continue to witness impressive market developments with CAGR growth estimated at around 30% during 2010-2012.

 

As per our research, the main reason responsible for the growth of motor insurance sector in Saudi Arabia is the rapidly growing population in the region and compulsory motor insurance. It is expected that, auto sales will rise at a very fast rate during 2008 - 2013. Along with this trend, various other strong fundamental drivers are discussed and analyzed in the report, which will enable this segment to sustain its upward growth trend in the coming years.

 

Apart from motor insurance, various other segments are also showing promising future prospects. Motor, health, property, and fire insurance segments have shown tremendous growth in the past and we anticipate that these segments will grow significantly in the coming years as well on the back of promotional strategies deployed by the government.

 

“Saudi Arabia Insurance Market to 2012” contains comprehensive information, statistical data, and rational analysis of the insurance industry in Saudi Arabia. The report also identifies key industry players, their respective market share and business strategies, which can prove beneficial for new entrants. In addition, the report discusses the regulatory environment, recent regulatory developments, and requirements for foreign ownership in the domestic insurance market. The report further assesses the emerging opportunity areas as well as growth constraints, which needs to be addressed. Therefore, the report is a complete guide to investors (new entrants as well as existing players wishing to expand) in Saudi Arabia's insurance market.

For more information visit: http://www.rncos.com/Report/IM024.htm