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Saudi Arabia Life Insurance 2014 and Forecast to 2018 by Market Research Store

Saudi Arabia Life Insurance Market 2014 Key Trends, Demand, Forecast and Analysis to 2018

 

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

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

It provides 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, 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 life insurance segment's growth prospects by life insurance category
Key trends, drivers and challenges for the life insurance segment
The various distribution channels in the Saudi Arabian life insurance segment
Details of regulatory policy applicable to the Saudi Arabian insurance industry
Details of the competitive landscape in the 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 life insurance segment and each category within it.
Understand the demand-side dynamics, key market trends and growth opportunities in the Saudi Arabian life insurance segment.
Assess the competitive dynamics in the 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
The Saudi Arabian life insurance segment has significant potential for growth and expansion over the forecast period, driven by favorable demographic factors such as rises in the aging population and life expectancy.
In terms of gross written premium, life insurance was the most underperforming segment, accounting for 3.3% of the overall insurance gross written premium.
Agencies remained the most popular distribution channel among life insurers in Saudi Arabia during the review period. Agencies' share of the segment's total commission stood at 43.2% in 2013.
Life insurance penetration in Saudi Arabia is lower than in other GCC countries such as the UAE and Bahrain. The low penetration rate can be mainly attributed to the emergence of takaful insurance and the limited presence of conventional life insurance in the country.
The Saudi life insurance segment registered a combined ratio of below 100% during the review period, indicating that insurers have recorded underwriting profits.

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