Saudi Arabia Non-Life Insurance Industry 2014 Market Analysis and Forecast to 2018 by Market Research Store
Deerfield Beach, FL -- (SBWIRE) -- 10/14/2015 -- 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).
Complete report is available @: http://www.marketresearchstore.com/report/non-life-insurance-in-saudi-arabia-key-trends-and-33540
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 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.
'Non-Life Insurance in the Saudi Arabia, Key Trends and Opportunities to 2018' report provides in-depth market analysis, information and insights into the Saudi Arabian non-life insurance segment, including:
- 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
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- It provides historical values for the Saudi Arabian non-life insurance segment for the report's 2009–2013 review period, and projected figures for the 2013–2018 forecast period.
- It offers a detailed analysis of the key categories in the Saudi Arabian non-life insurance segment, and market forecasts to 2018.
- It analyzes the various distribution channels for non-life insurance products in Saudi Arabia.
- It profiles the top non-life insurance companies in Saudi Arabia, and outlines the key regulations affecting them.
- 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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