Saudi Arabia Non-Life Insurance Industry 2014 Demand, Size, Forecast and Analysis to 2018

Deerfield Beach, FL -- (SBWire) -- 09/16/2015 --Synopsis

'Non-Life Insurance in the Saudi Arabia, Key Trends and Opportunities to 2018' report provides detailed analysis of the market trends, drivers, challenges in the Saudi Arabian non-life insurance segment.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions during the review period (2009–2013) and forecast period (2013–2018).

The report also analyzes distribution channels operating in the segment, explains the product portfolios of leading non-life insurers, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in regulatory structure.

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Summary
The Saudi Arabian non-life insurance segment's growth prospects by non-life insurance category
Key trends, drivers and challenges for the non-life insurance segment
The various distribution channels in the Saudi Arabian non-life insurance segment
Product portfolios of leading non-life insurers
Details of regulatory policy applicable to the Saudi Arabian insurance industry
Details of the competitive landscape in the non-life insurance segment in Saudi Arabia

Reasons To Buy
Make strategic business decisions using in-depth historic and forecast market data related to the Saudi Arabian non-life insurance segment and each category within it.
Understand the demand-side dynamics, key market trends and growth opportunities in the Saudi Arabian non-life insurance segment.
Assess the competitive dynamics in the non-life insurance segment.
Identify growth opportunities and market dynamics in key product categories.
Gain insights into key regulations governing the Saudi Arabian insurance industry, and their impact on companies and the industry's future.

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Key Highlights
Non-life insurance was the second-largest segment in the Saudi insurance industry in 2013, accounting for 45.6% of the industry's total premium.
Compulsory unemployment insurance, which was proposed in January 2014, is expected to be implemented by the end of 2015.
The rise in the sales of new vehicles contributed to the growth of motor insurance during the review period, as a result of which, motor insurance was the largest category in terms of gross written premium in 2013.
Brokers dominated the non-life segment, with 48.7% of the non-life gross written premium in 2013.
The regulator has outlined minimum capital requirements for insurers and reinsurers in the country, in a move to protect consumer interests and ensure insurers financial stability.
Saudi Arabia ceded 65.1% of its gross written premium to reinsurance in 2013, the sixth-highest in the GCC region after Oman, the UAE, Egypt, Kuwait and Qatar.
Third-party motor, engineers' professional liability and health insurance are compulsory in Saudi Arabia. As a result, the Saudi insurance gross written premium is expected to grow at a forecast-period CAGR of 15.1%.

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