Non-Life Insurance in Saudi Arabia, Key Trends and Opportunities to 2021
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GlobalData’s 'Non-Life Insurance in Saudi Arabia Key Trends and Opportunities to 2021' 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 (2012–2016) and forecast period (2016–2021).
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 hazard and their impact on the Saudi Arabian insurance industry, and provides detailed information on the competitive landscape in the country.
The report brings together GlobalData’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.
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 2012–2016 review period, and projected figures for the 2016–2021 forecast period.
• It offers a detailed analysis of the key categories in the Saudi Arabian non-life insurance segment, and market forecasts to 2021.
• 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 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.
Key Highlights
• Effective from July 2, 2017, insurers and insurance service providers must only hire Saudi citizens for motor insurance claims settlement and customer services administration departments.
• Sanad Cooperative Insurance Company applied for the voluntary liquidation of its business due to a more than 50% loss of its capital in March 2017.
• On March 30, 2017, the Saudi Arabian Monetary Authority (SAMA) introduced Rules on the Collection and Exchange of Motor Insurance Information.
• On December 28, 2016, SAMA issued a new directive to motor insurance companies to provide no-claim discounts to their customers from April 1, 2017.
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.
Bupa Arabia for Cooperative Insurance
The Mediterranean and Gulf Insurance and Reinsurance Co
Malath Cooperative Insurance and Reinsurance Company
Al-Rajhi Company for Cooperative Insurance
Axa Cooperative Insurance Company
Saudi United Cooperative Insurance Company
Saudi Re For Cooperative Reinsurance Company
Trade Union Cooperative Insurance Company
Allianz Saudi Fransi Cooperative Insurance Company
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