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Synopsis
Timetric’s 'Non-Life Insurance in Saudi Arabia, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Saudi Arabian non-life insurance segment, and a comparison of the Saudi Arabian insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Saudi Arabian economy and demographics, explains the various types of natural and man-made hazards and their impact on the Saudi Arabian insurance industry, 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 the regulatory structure.

Summary
Timetric’s 'Non-Life Insurance in Saudi Arabia, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Saudi Arabian non-life insurance segment, including:

- The Saudi Arabian non-life segment’s detailed outlook by product category

- A comprehensive overview of the Saudi Arabian economy and demographics

- A comparison of the Saudi Arabian non-life insurance segment with its regional counterparts

- The various distribution channels in the Saudi Arabian non-life insurance segment

- Detailed analysis of natural and man-made hazards and their impact on the Saudi Arabian insurance industry

- Details of the competitive landscape in the non-life insurance segment in Saudi Arabia

- Details of regulatory policy applicable to the Saudi Arabian insurance industry

Scope
This report provides a comprehensive analysis of the non-life insurance segment in Saudi Arabia:

- It provides historical values for the Saudi Arabian non-life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.

- It offers a detailed analysis of the key categories in the Saudi Arabian non-life insurance segment, and market forecasts to 2020.

- It provides a comparison of the Saudi Arabian non-life insurance segment with its regional counterparts.

- It analyzes the various distribution channels for non-life insurance products in Saudi Arabia.

- It analyzes various natural and man-made hazards and their impact on the Saudi Arabian insurance industry.

- It profiles the top non-life insurance companies in Saudi Arabia, and outlines the key regulations affecting them.

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.

Key Highlights
- In December 2016, the Saudi Arabian Monetary Authority instructed motor insurers to introduce a no-claims discount provision for individual customers when renewing motor insurance policies.

- The penetration rate of non-life insurance segment was 0.7% in 2015, and is expected to reach 1.0% in 2020.

- Motor insurance was the largest non-life category, accounting for 65.4% of the segment’s direct written premium in 2015.

- According to new regulations, hospitals are required to bill treatment expenses to the insurance provider of the person responsible for the accident.

Table Of Contents

Non-Life Insurance in Saudi Arabia, Key Trends and Opportunities to 2020
Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Profitability
4.2.3 Assets and investments
5 Outlook by Category
5.1 Property Insurance
5.1.1 Product overview
5.1.2 Premium
5.1.3 Profitability
5.2 Motor Insurance
5.2.1 Product overview
5.2.2 Premium
5.2.3 Profitability
5.3 Liability Insurance
5.3.1 Product overview
5.3.2 Premium
5.3.3 Profitability
5.4 Marine, Aviation and Transit Insurance
5.4.1 Product overview
5.4.2 Premium
5.4.3 Profitability
6 Distribution Channel Outlook
6.1 Analysis by Distribution Channel
7 Natural and Man-made Hazards
7.1 Floods
7.2 Droughts
7.3 Dust Storms
7.4 Earthquakes
7.5 Man-Made Disasters
7.6 Exposure
8 Competitive Landscape
8.1 Company Profiles
8.1.1 The company for Cooperative Insurance - company overview
8.1.2 The Mediterranean and Gulf Cooperative Insurance and Reinsurance Company - company overview
8.1.3 Malath Cooperative Insurance and Reinsurance Company - company overview
8.1.4 Al-Rajhi Company for Cooperative Insurance Company - company overview
8.1.5 United Cooperative Assurance Insurance Company - company overview
9 Governance, Risk and Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulation
9.3 Legislation and Market Practice by Type of Insurance
9.3.1 Life insurance
9.3.2 Property insurance
9.3.3 Motor insurance
9.3.4 Liability insurance
9.3.5 Marine, aviation and transit insurance
9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Motor third-party liability insurance
9.4.2 Social insurance system
9.4.3 Third-party liability insurance for high-risk facilities
9.4.4 Professional indemnity insurance for insurance intermediaries
9.4.5 Liability insurance for ships with respect to oil pollution
9.5 Supervision and Control
9.5.1 International Association of Insurance Supervisors
9.5.2 Saudi Arabian Monetary Agency
9.6 Non-Admitted Insurance Regulations
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and penalties
9.7 Company Registration and Operations
9.7.1 Type of insurance organization
9.7.2 Establishing a local company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margins
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxation
9.8.2 Withholding taxes on premium paid overseas
9.8.3 Corporate tax
9.8.4 VAT
9.8.5 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution
10 Databook
10.1 Policies and Premium
10.2 Claims and Expenses
10.3 Assets and Investments
10.4 Property Insurance
10.5 Property Insurance by Product
10.6 Motor Insurance
10.7 Liability Insurance
10.8 Marine, Aviation and Transit Insurance
11 Definitions and Methodology
11.1 Definitions
11.2 Methodology
12 About Timetric
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric's Services
12.4 Disclaimer



List of Tables
Table 1: Saudi Arabian Non-life Insurance - Key Facts, 2015
Table 2: Saudi Arabian Non-life Insurance - Top Insurers, 2015
Table 3: Saudi Arabian Government Credit Ratings
Table 4: Saudi Arabian Non-life Insurance - Gross Written Premium (SAR Billion and US$ Billion), 2011-2015
Table 5: Saudi Arabian Non-life Insurance - Penetration (%), 2011-2015
Table 6: Saudi Arabian Non-life Insurance - Gross Written Premium (SAR Billion and US$ Billion), 2015-2020
Table 7: Saudi Arabian Non-life Insurance - Penetration (%), 2015-2020
Table 8: Saudi Arabian Non-life Insurance - Premium per Capita (SAR and US$), 2011-2015
Table 9: Saudi Arabian Non-life Insurance - Premium per Capita (SAR and US$), 2015-2020
Table 10: Saudi Arabian Non-life Insurance - Profitability Ratio (%), 2011-2015
Table 11: Saudi Arabian Non-life Insurance - Profitability Ratio (%), 2015-2020
Table 12: Saudi Arabian Non-life Insurance - Total Assets (SAR Billion and US$ Billion), 2011-2015
Table 13: Saudi Arabian Non-life Insurance - Total Assets (SAR Billion and US$ Billion), 2015-2020
Table 14: Saudi Arabian Non-life Insurance - Total Investment Income (SAR Million and US$ Million), 2011-2015
Table 15: Saudi Arabian Non-life Insurance - Total Investment Income (SAR Million and US$ Million), 2015-2020
Table 16: Saudi Arabian Non-life Insurance - Investment Portfolio (SAR Billion), 2011-2015
Table 17: Saudi Arabian Non-life Insurance - Investment Portfolio (SAR Billion), 2015-2020
Table 18: Saudi Arabian Non-life Insurance - Direct Written Premium by Category (SAR Billion),2011-2015
Table 19: Saudi Arabian Non-life Insurance - Direct Written Premium by Category (SAR Billion), 2015-2020
Table 20: Saudi Arabian Property Insurance - Direct Written Premium by Sub-Category (SAR Billion), 2011-2015
Table 21: Saudi Arabian Property Insurance - Direct Written Premium by Sub-Category (SAR Billion), 2015-2020
Table 22: Saudi Arabian Property Insurance - Loss Ratio (%), 2011-2015
Table 23: Saudi Arabian Property Insurance - Loss Ratio (%), 2015-2020
Table 24: Saudi Arabian Motor Insurance - Imported Vehicles, 2011-2015
Table 25: Saudi Arabian Motor Insurance - Direct Written Premium by Sub-Category (SAR Billion), 2011-2015
Table 26: Saudi Arabian Motor Insurance - Direct Written Premium by Sub-Category (SAR Billion), 2015-2020
Table 27: Saudi Arabian Motor Insurance - Loss Ratio (%), 2011-2015
Table 28: Saudi Arabian Motor Insurance - Loss Ratio (%), 2015-2020
Table 29: Saudi Arabian Liability Insurance - Direct Written Premium by Sub-Category (SAR Million), 2011-2015
Table 30: Saudi Arabian Liability Insurance - Direct Written Premium by Sub-Category (SAR Million), 2015-2020
Table 31: Saudi Arabian Liability Insurance - Loss Ratio (%), 2011-2015
Table 32: Saudi Arabian Liability Insurance - Loss Ratio (%), 2015-2020
Table 33: Saudi Arabian Transport Network - Global Rankings
Table 34: Saudi Arabian -Export Values( SAR Billion) and Weight (Tons)
Table 35: Saudi Arabian -Import Values( SAR Billion) and Weight (Tons)
Table 36: Saudi Arabian Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (SAR Million), 2011-2015
Table 37: Saudi Arabian Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (SAR Million), 2015-2020
Table 38: Saudi Arabian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2011-2015
Table 39: Saudi Arabian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2015-2020
Table 40: Saudi Arabian Insurance Industry, Market Shares of Leading Insurers (%), 2015
Table 41: The Company for Cooperative Insurance Company - Key Facts
Table 42: The Company for Cooperative Insurance Company - Key Financials (SAR Million), 2011-2015
Table 43: The Mediterranean and Gulf Cooperative Insurance and Reinsurance Company Insurance Company - Key Facts
Table 44: The Mediterranean and Gulf Cooperative Insurance and Reinsurance Company Insurance Company - Key Financials (SAR Million), 2011-2015
Table 45: Malath Cooperative Insurance and Reinsurance Company Insurance Company - Key Facts
Table 46: Malath Cooperative Insurance and Reinsurance Company Insurance Company - Key Financials (SAR Million), 2011-2015
Table 47: Al-Rajhi Company for Cooperative Insurance Company - Key Facts
Table 48: Al-Rajhi Company for Cooperative Insurance Company - Key Financials (SAR Million), 2011-2015
Table 49: United Cooperative Assurance Insurance Company - Key Facts
Table 50: United Cooperative Assurance Insurance Company - Key Financials (SAR Million), 2011-2015
Table 51: Saudi Arabia - Insurance Regulatory Framework Key Features
Table 52: Saudi Arabia - Life Insurance Regulatory Framework
Table 53: Saudi Arabia - Property Insurance Regulatory Framework
Table 54: Saudi Arabia - Motor Insurance Regulatory Framework
Table 55: Saudi Arabia - Liability Insurance Regulatory Framework
Table 56: Saudi Arabia - Investment Limits for Insurance Companies
Table 57: Saudi Arabia - Corporate Tax Rates for the Financial Year 2016
Table 58: Saudi Arabian Insurance Industry - Policies and Premium, 2011-2015
Table 59: Saudi Arabian Insurance Industry - Policies and Premium, 2015-2020
Table 60: Saudi Arabian Non-life Insurance - Claims and Expenses, 2011-2015
Table 61: Saudi Arabian Non-life Insurance - Claims and Expenses, 2015-2020
Table 62: Saudi Arabian Non-life Insurance - Assets and Investments, 2011-2015
Table 63: Saudi Arabian Non-life Insurance - Assets and Investments, 2015-2020
Table 64: Saudi Arabian Non-life Insurance - Property Insurance, 2011-2015
Table 65: Saudi Arabian Non-life Insurance - Property Insurance, 2015-2020
Table 66: Saudi Arabian Non-life Insurance - Property Insurance by Product, 2011-2015
Table 67: Saudi Arabian Non-life Insurance - Property Insurance by Product, 2015-2020
Table 68: Saudi Arabian Non-life Insurance - Motor Insurance, 2011-2015
Table 69: Saudi Arabian Non-life Insurance - Motor Insurance, 2015-2020
Table 70: Saudi Arabian Non-life Insurance - Liability Insurance, 2011-2015
Table 71: Saudi Arabian Non-life Insurance - Liability Insurance, 2015-2020
Table 72: Saudi Arabian Non-life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
Table 73: Saudi Arabian Non-life Insurance - Marine, Aviation and Transit Insurance, 2015-2020
Table 74: Insurance Industry Definitions



List of Figures
Figure 1: Saudi Arabian Real GDP (SAR Trillion), 2011-2020
Figure 2: Saudi Arabian Consumer Price Inflation (%), 2011-2020
Figure 3: Saudi Arabian Current Account Balance as Percentage of GDP (%), 2011-2015
Figure 4: Saudi Arabian Unemployment Rate, 2011-2020
Figure 5: Saudi Arabian Population by Age Group, 1992-2025
Figure 6: Saudi Arabian Non-Life Insurance Penetration - Regional Comparison (%), 2015
Figure 7: Saudi Arabian Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2015
Figure 8: Saudi Arabian Non-life Insurance - Gross Written Premium (SAR Billion), 2011-2020
Figure 9: Saudi Arabian Non-life Insurance - Penetration (%), 2011-2020
Figure 10: Saudi Arabian Non-life Insurance - Premium per Capita (SAR), 2011-2020
Figure 11: Saudi Arabian Non-life Insurance - Profitability Ratio (%), 2011-2020
Figure 12: Saudi Arabian Non-life Insurance - Total Assets (SAR Billion), 2011-2020
Figure 13: Saudi Arabian Non-life Insurance - Total Investment Income (SAR Million), 2011-2020
Figure 14: Saudi Arabian Non-life Insurance - Investment Portfolio (SAR Billion), 2011-2020
Figure 15: Saudi Arabian Non-life Insurance - Investment Portfolio Dynamics by Category, 2011-2020
Figure 16: Saudi Arabian Non-life Insurance - Direct Written Premium by Category (SAR Billion), 2011-2020
Figure 17: Saudi Arabian Non-life Insurance - Direct Written Premium Dynamics by Category, 2011-2020
Figure 18: Saudi Arabian Property Insurance Industry - Construction Value Output by Category (SAR Trillion), 2011-2015
Figure 19: Saudi Arabian Property Insurance - Direct Written Premium by Sub-Category (SAR Billion), 2011-2020
Figure 20: Saudi Arabian Property Insurance Industry - Direct Written Premium Dynamics by Sub-Category, 2011-2020
Figure 21: Saudi Arabian Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (SAR Billion and %), 2011-2020
Figure 22: Saudi Arabian Motor Insurance - Direct Written Premium (SAR Billion), 2011-2020
Figure 23: Saudi Arabian Motor Insurance - Earned Premium, Incurred Loss and Loss Ratio (SAR Billion and %), 2011-2020
Figure 24: Saudi Arabian Liability Insurance - Direct Written Premium (SAR Million), 2011-2020
Figure 25: Saudi Arabian Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (SAR Billion and %), 2011-2020
Figure 26: Saudi Arabian Saudi Arabian Marine, Aviation and Transit Insurance - Exports and Imports values (SAR Billion), 2011-2015
Figure 27: Saudi Arabian Marine, Aviation and Transit Insurance - Direct Written Premium (SAR Million), 2011-2020
Figure 28: Saudi Arabian Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (SAR Billion and %), 2011-2020
Figure 29: Saudi Arabian Non-life Segment - Market Shares of Leading Insurers (%), 2015
Figure 30: Saudi Arabia - Insurance Supervision and Control at Various Levels
Figure 31: Saudi Arabia - Insurance Regulatory Frameworks for Company Registration and Operation



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