The insurance market in the Middle East is expected to grow at a CAGR of around 25% during 2010-2013, says RNCOS in its research report.
Online PR News – 30-September-2010 – – According to our research report “Middle East Insurance Market Forecast to 2012”, the Middle East insurance market is rapidly growing and changing. Although the market is small in comparison to other parts of the world, the scope for further expansion is huge. The Middle East insurance market is expected to grow at a CAGR of around 25% during 2010-2013 mainly due to various factors discussed in the report. The market has immense potential for future growth, provided the favorable conditions prevailing in the region are properly utilized by the policymakers and regulators.
After analyzing the key factors driving the insurance industry in the region, we have found that there exists a big gap that needs to be filled. The region is underdeveloped due to lack of capacity, risk-management and actuarial capabilities, resulting into an uneven reliance on the international reinsurers to assess risks and provide appropriate pricing guidelines. Overall, the sector needs a lot of improvement, especially in its regulatory framework, to evolve from the nascent stage.
The report has evaluated life and non-life insurance segments. The non-life insurance segments like health, motor, marine, fire insurance have been thoroughly discussed. Islamic insurance is another growing area in the Middle East and the report covers takaful share in different countries as well. Key drivers of the Middle East insurance industry like low penetration, young educated population and government initiatives have been critically evaluated in the report.
“Middle East Insurance Market Forecast to 2012” provides detailed analysis of the insurance industry by country. It gives the market size of all these countries. The report forecasts future growth rates of the insurance markets in all these countries. The report provides an extensive research and in-depth analysis of the insurance sector in the Middle East. It will help clients to analyze the leading-edge opportunities critical to the success of the insurance industry in the region. Detailed data and analysis will help clients to navigate through the evolving insurance markets in the region.
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