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Insurance in Saudi Arabia

Published: November 2012 · Publisher: MarketLine
Insurance in Saudi Arabia industry profile provides top-line qualitative and quantitative summary information including: market size (value 2007-11, and forecast to 2016).
Report Type Industry Profiles
Language English
Format Electronic (PDF)
Pages25
Frequency Updated Annually
Availability Will be emailed within 1 business day
Reference No. 0109-2114
Price € 259,00
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Introduction

Insurance in Saudi Arabia industry profile provides top-line qualitative and quantitative summary information including: market size (value 2007-11, and forecast to 2016). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the Saudi Arabia insurance market. Includes market size data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Highlights

*The insurance market consists of the non-life insurance sector and the life insurance sector. The value of the market is shown in terms of gross premium incomes. The life insurance sector consists of mortality protection and annuity. The non-life insurance sector consists of accident and health, and property and casualty insurance segments. The insurance market depends on a variety of economic and non-economic factors, and future performance is difficult to predict. The forecast given in this report is intended as a rough guide to the direction in which the market is likely to move. This forecast is based on a correlation between past market growth and growth of base drivers, such as house price growth, GDP growth and long-term interest rates. All currency conversions have been calculated at constant annual 2011 average exchange rates.

*The Saudi Arabian insurance market had total gross written premiums of $5 billion in 2011, representing a compound annual growth rate (CAGR) of 21.4% between 2007 and 2011.

*The non-life insurance segment was the market's most lucrative in 211, with total gross written premiums of $4.7 billion, equivalent to 94.2% of the market's overall value.

*The performance of the market is forecast to decelerate, with an anticipated CAGR of 5.2% for the five-year period 2011 - 2016, which is expected to drive the market to a value of $6.4 billion by the end of 2016.

Features

Save time carrying out entry-level research by identifying the size, growth, and leading players in the insurance market in Saudi Arabia

Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the insurance market in Saudi Arabia

Leading company profiles reveal details of key insurance market players’ global operations and financial performance

Add weight to presentations and pitches by understanding the future growth prospects of the Saudi Arabia insurance market with five year forecasts

Macroeconomic indicators provide insight into general trends within the Saudi Arabia economy

Key Questions Answered

What was the size of the Saudi Arabia insurance market by value in 2011?

What will be the size of the Saudi Arabia insurance market in 2016?

What factors are affecting the strength of competition in the Saudi Arabia insurance market?

How has the market performed over the last five years?

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TABLE OF CONTENTS
Executive Summary 2
Market value 2
Market value forecast 2
Category segmentation 2
Market rivalry 2
Market Overview 6
Market definition 6
Market analysis 6
Market Data 7
Market value 7
Market Segmentation 8
Category segmentation 8
Market Outlook 9
Market value forecast 9
Five Forces Analysis 10
Summary 10
Buyer power 11
Supplier power 12
New entrants 13
Threat of substitutes 14
Degree of rivalry 15
Leading Companies 16
Allianz Group 16
Saudi National Insurance Company 19
United Cooperative Assurance 20
Macroeconomic Indicators 21
Country Data 21
Appendix 23
Methodology 23
Industry associations 24
Related research 24

LIST OF TABLES
Table 1: Saudi Arabia insurance market value: $ billion, 2007–11 7
Table 2: Saudi Arabia insurance market category segmentation: $ billion, 2011 8
Table 3: Saudi Arabia insurance market value forecast: $ billion, 2011–16 9
Table 4: Allianz Group: key facts 16
Table 5: Allianz Group: key financials ($) 17
Table 6: Allianz Group: key financials (€) 17
Table 7: Allianz Group: key financial ratios 17
Table 8: Saudi National Insurance Company: key facts 19
Table 9: United Cooperative Assurance: key facts 20
Table 10: Saudi Arabia size of population (million), 2007–11 21
Table 11: Saudi Arabia gdp (constant 2000 prices, $ billion), 2007–11 21
Table 12: Saudi Arabia gdp (current prices, $ billion), 2007–11 21
Table 13: Saudi Arabia inflation, 2007–11 22
Table 14: Saudi Arabia consumer price index (absolute), 2007–11 22
Table 15: Saudi Arabia exchange rate, 2007–11 22

LIST OF FIGURES
Figure 1: Saudi Arabia insurance market value: $ billion, 2007–11 7
Figure 2: Saudi Arabia insurance market category segmentation: % share, by value, 2011 8
Figure 3: Saudi Arabia insurance market value forecast: $ billion, 2011–16 9
Figure 4: Forces driving competition in the insurance market in Saudi Arabia, 2011 10
Figure 5: Drivers of buyer power in the insurance market in Saudi Arabia, 2011 11
Figure 6: Drivers of supplier power in the insurance market in Saudi Arabia, 2011 12
Figure 7: Factors influencing the likelihood of new entrants in the insurance market in Saudi Arabia, 2011 13
Figure 8: Factors influencing the threat of substitutes in the insurance market in Saudi Arabia, 2011 14
Figure 9: Drivers of degree of rivalry in the insurance market in Saudi Arabia, 2011 15
Figure 10: Allianz Group: revenues & profitability 18
Figure 11: Allianz Group: assets & liabilities 18
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