Saudi Arabia Non-life Insurance Set for Double Digit Growth

As per our recently released research report "Saudi Arabia Insurance Market to 2012", in spite of a profound hit from global financial crisis, the non-life insurance sector in Saudi Arabia has managed to emerge well. The gross non-life insurance premium is expected to grow at a CAGR of around 13% during 2009-2013.  Motor and property insurance account for the bulk of non-life insurance business in the country and are expected to continue playing a dominant role in the future growth also.

The report reveals that though motor and property insurance dominate the market, some of the emerging insurance lines like engineering and aviation insurance are the fastest growing general insurance businesses and their contribution to the insurance industry is expected to significantly rise in the coming years on flourishing real estate and increasing number of fleets in the aviation sector. In terms of gross premium written, the engineering insurance recorded YOY growth of around 42% in 2008 while aviation insurance posted about 21% growth during the same period.

"Saudi Arabia Insurance Market to 2012" is an outcome of extensive research and detailed study of the Saudi insurance sector. Taking into consideration the recent industry developments and changes in macroeconomic variables amidst the global financial crisis, the report presents forecast for all the important industry aspects like health insurance, protection and savings insurance, motor, property/fire insurance, marine insurance, engineering and aviation insurance.

The report also identifies the key industry players, their respective market share and business strategies, which can prove beneficial for new entrants. In addition to this, the report talks about the regulatory environment, recent regulatory developments and requirement for foreign ownership in the domestic insurance market. The report further assesses the emerging opportunity areas as well as growth constraints which need 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