Boston, MA -- (SBWIRE) -- 02/23/2013 -- Saudi Arabia’s Takaful insurance industry is the largest Takaful industry in the world. Robust economic growth, increasing annual disposable income, favorable demographics, introduction of compulsory insurances and government expenditure on infrastructure present a significant business opportunity and positive growth potential over the forecast period. Furthermore, increasing awareness of Takaful insurance and the non-existence of conventional insurance supported the growth of the industry in the country. The outlook for the industry remains positive for the life, non-life, and personal accident and health insurance segments. Premiums in all the segments are expected to increase at respectable rates in line with economic growth.

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Key Highlights

- Saudi Arabia’s Takaful insurance industry is the largest Takaful industry in the world.
- Strong economic fundamentals and favorable demographics support the growth of Takaful insurance in Saudi Arabia.
- The Takaful insurance industry in Saudi Arabia is regulated by the Saudi Arabian Monetary Agency (SAMA) through its Insurance Supervision Department.
- The health insurance and motor insurance categories are expected to remain the key growth drivers for the Takaful insurance industry.
- According to the Saudi Arabian Monetary Authority (SAMA), there are 33 Takaful insurance and reinsurance companies operating in Saudi Arabia, both domestic and international.
- Takaful insurance companies in Saudi Arabia focused on customer segments by offering customized products.

Scope

This report provides a comprehensive analysis of the Takaful insurance market in Saudi Arabia:

- It provides historical values for the Saudi Arabian Takaful insurance market for the report’s 2007–2011 review period and forecast figures for the 2012–2016 forecast period
- It offers a detailed analysis of the key segments and sub-segments in the Saudi Arabian Takaful insurance market, along with market forecasts until 2016
- It covers an exhaustive list of parameters, including gross written premium, premium per capita, number of active policies, insurance penetration (percentage of GDP), paid claims, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, investments, total investment income and retentions.
- It outlines the key regulations affecting the overall Saudi Arabian Takaful insurance market

Reasons to Get this Report

- Make strategic business decisions using in depth historic and forecast market data related to the Saudi Arabian Takaful insurance industry and each segment within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Saudi Arabian Takaful insurance market
- Identify the growth opportunities and market dynamics within key segments

Companies Mentioned in this Report: The Company for Cooperative Insurance, The Mediterranean & Gulf Cooperative Insurance & Reinsurance, Bupa Arabia for Cooperative Insurance, United Cooperative Assurance, Malath Cooperative Insurance and Reinsurance Company, AXA Cooperative Insurance, Allianz Saudi Fransi

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