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Saudi insurance industry one of fastest growing worldwide
February 7, 2010
The Saudi Arabian insurance industry has emerged as one of the fastest growing insurance industries across the world. While the global economic crisis has severely hit other industrial sectors, the insurance industry posts 25-30 percent annual growth rate on the back of compulsory insurance lines.
According to our new research report "Saudi Arabia Insurance Market to 2012", protection & savings and health insurance are the fastest growing insurance lines in the Kingdom, with health insurance accounting for around 44 percent of the overall insurance market as of the end of 2008.
Besides, long-term growth of the insurance industry primarily depends on the performance of protection and savings insurance, owing to low penetration of life insurance in the country. The protection and savings insurance premium is expected to grow at a CAGR of around 55 percent over the forecast period (2009-2013)
Original Posting At: GulfBase
According to our new research report "Saudi Arabia Insurance Market to 2012", protection & savings and health insurance are the fastest growing insurance lines in the Kingdom, with health insurance accounting for around 44 percent of the overall insurance market as of the end of 2008.
Besides, long-term growth of the insurance industry primarily depends on the performance of protection and savings insurance, owing to low penetration of life insurance in the country. The protection and savings insurance premium is expected to grow at a CAGR of around 55 percent over the forecast period (2009-2013)
Original Posting At: GulfBase
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