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Saudi Arabia Insurance Report Q2 2016

  • April 2016
  • -
  • Business Monitor International
  • -
  • 47 pages

Includes 3 FREE quarterly updates

BMI View: Within the non-life segment, growth in premiums through the forecast period will continue to bedriven by developments in two sub-sectors. There should be higher volumes (if not prices) in the motorvehicle insurance sub-sector thanks to the expansion in the number of vehicles on Saudi Arabia's vehicles.Higher volumes and inflation in healthcare costs should ensure that health insurance, which is already byfar the most important sub-sector, continues to achieve double-digit annual growth rates. Meanwhile, thelife insurance segment should remain at an embryonic level of development.

Key Updates And Forecasts

- As of early 2016, the latest reports from the leading insurers indicate that conditions have been quitechallenging through 2015. Some have experienced strong growth in premiums; others, significant falls.Many of the leaders have ceded significant percentages of gross premiums to reinsurers. Claims costshave spiralled. Investment earnings have been low. Profits for shareholders have been minimal. Weremain of the view that non-life premiums rose by 5.4% in 2015 and that they should grow by 10.6% in2016. We consider that the risks to our forecasts are to the upside.

Table Of Contents

Saudi Arabia Insurance Report Q2 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Saudi Arabia 2013-2020) 5
SWOT 6
Insurance 6
Industry Forecast 8
Life Premiums Forecast 8
Table: Life Premiums (Saudi Arabia 2013-2020) 10
Table: Life Insurance Claims (Saudi Arabia 2008-2014) 11
Non-Life Premiums Forecast 12
Table: Non-Life Premiums (Saudi Arabia 2013-2020) 15
Table: Non-Life Insurance Claims (Saudi Arabia 2009-2015) 16
Non-Life Sub-sector Forecast 17
Table: Non-Life Insurance Premiums by Product Line (Saudi Arabia 2013-2020) 24
Insurance Risk/Reward Index 25
MENA Insurance Risk/Reward Index 25
Table: MENA Insurance Risk/Reward Index - Q216 26
Market Overview 27
Life Market Overview 27
The Product Offering 27
The Competitive Landscape 27
Non-Life Market Overview 29
The Product Offering 29
The Competitive Landscape 29
Table: Non-Life Insurance Market (USDmn), 2007-2012 31
Table: Non-Life Insurance Market (%), 2007-2012 32
Company Profile 33
Islamic Arab Insurance Company (Salama) 33
MedGulf 35
Tawuniya 38
Methodology 41
Industry Forecast Methodology 41
Risk/Reward Index Methodology 44
Table: Indicators 46
Table: Weighting of Indicators 47

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