Saudi Arabia Set to Drive Middle East Insurance Premium

With a CAGR of over 37% in Saudi Arabia, insurance industry in Middle East will grow at a rate of about 25% during 2010-2013.

Online PR News – 15-June-2010 – – During 2009, Saudi Arabia’s insurance industry witnessed the highest growth rate amongst all the Middle East countries and the trend is expected to continue for the next few years also. Favorable economic conditions and introduction of compulsory motor insurance and cooperative health insurance are prompting the growth in the Saudi insurance industry. On the other hand, with around 16 companies operating in the Israeli insurance sector, it recorded the highest premium, followed by Turkey, UAE and Iran. So, in all, the insurance industry in the Middle East region has immense potential, and it is expected to grow at a CAGR of around 25% during 2010-2013, reveals our report “Middle East Insurance Market Forecast to 2012”.

The report analyzes the insurance industry of all the GCC nations along with Turkey, Iran, Israel and Jordan. GCC nations include Kuwait, Bahrain, Saudi Arabia, Qatar, United Arab Emirates and Oman. The study covers in-depth analysis of life and non-life insurance segments in the countries included. The non-life insurance is further divided into the major segments like fire, motor, marine and health insurance.

We have also identified the key insurance players in the Middle East region. Takaful insurance, another fastest growing insurance segment, has also been thoroughly analyzed in the report. Our report details the key factors that are expected to drive the future growth in the Middle East countries. The report, most importantly projects the growth rate of the insurance industry till 2013 in these countries.

Additionally, the factors which can restrict the growth have also been discussed in the report. “Middle East Insurance Market Forecast to 2012” evaluates the country-wise insurance sector in Middle East that will help clients analyze the leading-edge opportunities critical to the success of the insurance Industry in the region. This research supplements the past and current information on the Middle East insurance market along with forecast on various important industry aspects.

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