According to our research report “Saudi Arabia Insurance Market to 2012″, the Saudi Arabian insurance industry has emerged as one of the fastest growing insurance industries across the world. The Kingdom’s insurance industry has exhibited tremendous growth during the past few years and is providing lucrative opportunities for both existing as well as new market entrants, specifically motor insurance segment. It is anticipated that the motor insurance industry in the Kingdom will grow at a CAGR of over 33% during 2011-2013.
As per our research, main reasons for the growth of this sector are rapidly growing population in the region and mandatory motor insurance policy of the government. Along with this trend, various other strong fundamental drivers discussed and analyzed in the report will enable this segment to sustain its upward growth trend in the coming years.
Our research indicates that, besides motor insurance, various other segments are showing promising future prospects. Health, property, and fire insurance segments have registered tremendous growth rates during the past and we anticipate that these segments will even significantly grow in the coming years on the back of various promotional strategies deployed by the government.
Besides, we have done an in-depth analysis of the Saudi Arabian insurance industry. As per our research, the Saudi Arabian insurance market has been dominated by health insurance and non-life insurance (general insurance) products. However, as per our understanding of the industry, life insurance will grow much faster than other insurance sectors on the back of various reasons discussed in the report.
Our report “Saudi Arabia Insurance Market to 2012”, provides comprehensive information, statistical data, and rational analysis of the insurance industry in Saudi Arabia. Moreover, the emerging market trends and developments, like Takaful Insurance, Bancassurance, Reinsurance, etc are thoroughly studied in the report. Further, the report also elaborates on the forecasts for all the segments of the insurance market viz. health insurance, protection and savings insurance, motor insurance, and the entire sub segments of non life insurance segment.
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