Saudi Arabia’s Insurance Industry Growing Unprecedentedly

Saudi Arabia has emerged as one of the most attractive insurance markets in the Gulf Co-operation Council (GCC) region. In the recent years, the Kingdom’s insurance industry has progressed well, and its contribution grew equivalent to 1% of the GDP in 2010. RNCOS, in its latest report "Saudi Arabia Insurance Market Analysis", says that rising working population and compulsory insurance are expected to lead the industry’s future growth. It is anticipated that the gross insurance premium will witness a CAGR of around 17% during 2011-2015.

 

 

Spread over 65 pages, the report provides a detailed research and balanced analysis of the current status and expected position of the insurance industry in Saudi Arabia. Forecasts on gross written premium in health, protection and savings and general insurance for motor, property, and fire, among others are vital part of the study, which analyzes regulatory environment and the industry’s growth potentials. Highlighting the current performance and growth challenges, the research portrays an impartial picture of the industry for clear understanding of clients.

 

 

            - In 2010, health insurance segment contributed over 50% to the total gross insurance premiums during 2010.

            - The motor insurance was the largest grosser of premium among all general insurance sub-segments.

            - The general premium ceded in 2010 accounted for 43.4% of the general gross premium.

            - The diversification of economy is encouraging adoption and distribution of insurance in the Kingdom.

 

For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM301.htm

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