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Saudi Arabia Insurance Report |
Was: $1030.00 | |
| Now: $875.00 | ||
| You save: $155.00 (15%) |
The Saudi Arabia Insurance Report
- Independent 5-year insurance industry forecast for Saudi Arabia .
- Original insurance market research and insurance sector trend analysis for Saudi Arabia ’s insurance industry.
- Competitive intelligence, regional insurance company rankings and SWOT analyses on international and domestic insurance companies in Saudi Arabia .
The Saudi Arabia Insurance Report has been researched at source and features latest available data for annual insurance premiums and claims; assets and investments; 5-year insurance industry forecasts for Saudi Arabia through end- ; insurance company rankings and competitive landscapes for local insurers and multinational insurance subsidiaries in Saudi Arabia ; and analysis of the latest insurance industry developments, trends and regulatory changes in Saudi Arabia .
Business Monitor International's Saudi Arabia Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Saudi insurance industry.
Coverage
Saudi Arabia Insurance Sector At A Glance
Key insights into the insurance market, covering industry trends, key players and the regulatory environment, plus snapshots of life and non-life premium values in local currency and US$.
Evolution of the Saudi Insurance Market
Analysis of recent developments in the local insurance market, including data on life and non-life premium values, density and penetration, dating from 1998.
BMI 5-Year Industry Forecasts for Saudi Arabia
Analysis of market growth drivers, including 5-year projections (to end- ) for premium values. Forecasts section also includes BMI risk ratings on local economy, politics and business environment. Industry indicators covered include:
Number of life and non-life insurance companies; total and per capita Property/Casualty premiums and claims; total and per capita Life/Health premiums and claims; total premium income; total claims/expenses; total operating expenses; total assets and investments; industry density (per capita premiums) and penetration (premiums as a portion of GDP)
BMI 5-Year Macroeconomic Forecast for Saudi Arabia
BMI forecasts for all headline macroeconomic indicators, including real GDP growth, inflation, fiscal balance, trade balance, current account and external debt.
Insurance Company Rankings in Saudi Arabia
Comparative company analyses and rankings by premium income (life and non-life).
Insurance Industry Competitive Landscape in Middle East
A cross-border overview of key players and their market share across the region. Tables and graphs show country presence of multinationals throughout the region.
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Saudi Arabia Insurance Report |
Was: $1030.00 | |
| Now: $875.00 | ||
| You save: $155.00 (15%) |
Chapter - The Sector At A Glance |
| Table: Overview Of Saudi Arabia's Insurance Sector |
| Key Insights On Saudi Arabia's Insurance Sector |
Chapter - SWOT Analysis |
| Saudi Arabia Insurance Industry SWOT |
| Saudi Arabia Political SWOT |
| Saudi Arabia Economic SWOT |
| Saudi Arabia Business Environment SWOT |
Chapter - Development Of BMI's Insurance Reports |
| Comment – The Global Financial Crisis |
| Table: Selected European Countries: Budget And Current Account, 2008 (as % of GDP) |
| Revision Of Data And Forecasts |
Chapter - Projections And Forecasts |
| Table: Insurance Data And Projections, 2006-2013 |
| Projections And Drivers of Growth |
| Table: Growth Drivers, 2006-2013 |
Chapter - Country Update |
| Macroeconomic Outlook |
| Table: Saudi Arabia – Economic Activity |
| Political Outlook |
Chapter - Insurance Business Environment Rating |
| Table: Saudi Arabia – Insurance Business Environment Indicators |
| Table: Middle East And Africa – Insurance Business Environment Rankings |
Chapter - Regional Context |
| Table: Non-Life Premiums In A Regional Context, 2008 |
| Table: Life Premiums In A Regional Context, 2008 |
| Table: Comparison Of Major Lines As % Of Non-Life Premiums, 2006 |
Chapter - Analysis Of Competitive Conditions |
| Regional Overview |
| Table: Overview Of Local Insurance Companies In The UAE, 2006 And 2007 (US$mn) |
| Table: Overview Of Local Insurance Companies In Kuwait, 2006 And 2007 (US$mn) |
Chapter - Company Profiles |
| AGF |
| AIG |
| Allianz |
| Aviva |
| AXA |
| Cardif |
| Ergo |
| Eureko |
| Fortis |
| Generali |
| Groupama |
| HSBC Insurance |
| Liberty Mutual |
| MAPFRE |
| RSA |
| UNIQA |
| Zurich |
Chapter - Country Snapshot: Saudi Arabia Demographic Data |
| Section 1: Population |
| Table: Demographic Indicators, 2005-2030 |
| Table: Rural/Urban Breakdown, 2005-2030 |
| Section 2: Education And Healthcare |
| Table: Education, 2003-2005 |
| Table: Vital Statistics, 2005-2030 |
| Section 3: Labour Market And Spending Power |
| Table: Employment Indicators, 1999-2006 |
| Table: Consumer Expenditure, 2000-2012 (US$) |
Chapter - Methodology |
| Basis Of Projections |
| Insurance Business Environment Rating |
| Table: Insurance Business Environment Indicators And Rationale |
| Table: Weighting Of Indicators |
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Saudi Arabia Insurance Report |
Was: $1030.00 | |
| Now: $875.00 | ||
| You save: $155.00 (15%) |
The economic outlook has worsened since our last Business Forecast Report, with our latest oil price and production figures having been revised down, and the global climate continuing to deteriorate. Interbank lending remains very tight, and private sector projects continue to be cancelled. However, we are relatively positive on Saudi Arabia compared with some of its neighbours: it will suffer less from the population shrinkage we expect for the UAE and Qatar, and strong domestic need for housing will keep its real estate sector from experiencing the same degree of correction. We are forecasting real GDP growth of 2.1% this year, and 2.8% in 2010, followed by a recovery to 3.5% in 2011-2012 and 4.2% in 2013.
Breaking down our GDP forecast by expenditure, the most positive areas in 2009 will be government spending (which we see rising by a real 5.0%) and gross fixed capital formation (positive 2.0% expansion). However, these will suffer from the tighter lending conditions that have been plaguing the interbank market. Although rates are down from the spike back in Q308, on the back of central bank easing and other liquidity measures, risk aversion is still very much in play, and private sector borrowers say that conditions remain very challenging.
That said, the government is determined to keep the economy going, and, like many other governments across the globe, is prepared to pay for it. Riyadh has said it plans to spend SAR450bn (US$120bn) on major projects such as roads, railways and new cities in the next five years. In real terms, therefore, the economy is set to grow, even if it feels like a recession for consumers and workers.
In the Middle East and North Africa, we profile 17 companies. These are AGF, AIG, Allianz, Aviva, AXA, Cardif, ERGO, Eureko, Fortis, Generali, Groupama, HSBC Insurance, Liberty Mutual, MAPFRE, RSA, UNIQA and Zurich Financial Services.
We also look at a number of the smaller local firms that are active in the region, particularly in Kuwait, Oman, Saudi Arabia and the UAE. For almost all the countries whose reports we are updating, we are also able to include actual data for calendar year 2007. This was not the case for our Q208 reports.
We estimate that, over the course of 2008, total premiums in Saudi Arabia rose by 24% to SAR10,557mn. Non-life premiums rose by 23% to SAR10,155mn while life premiums rose by 50% to SAR402mn.
Between now and the end of the forecast period, we estimate that annual non-life premiums will grow by SAR9,004mn, while annual life premiums should grow by SAR681mn.
Growth in non-life premiums should be driven by the general growth of nominal GDP plus a rise in nonlife penetration from the current estimated level of 0.56%, to 1.00%.
Growth in life premiums should be driven by the change in the overall population and a rise in life density from a current estimated US$3.59 to US$10.00 per capita.
BMI’s Insurance Business Environment Rating for Saudi Arabia is 52.1.
|
Saudi Arabia Insurance Report |
Was: $1030.00 | |
| Now: $875.00 | ||
| You save: $155.00 (15%) |
Africa |
| Algeria, Egypt, Libya, Morocco, Nigeria, South Africa and Tunisia |
Asia |
| Australia, China, Hong Kong, India, Indonesia, Malaysia, Pakistan, Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam |
Caribbean |
| Bahamas, Barbados, Bermuda, Dominican Republic, Jamaica and Trinidad & Tobago |
Europe |
| Bulgaria, Croatia, Czech Republic, Estonia, Germany, Greece, Hungary, Kazakhstan, Latvia, Lithuania, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Ukraine and United Kingdom |
Latin America |
| Argentina, Brazil and Mexico |
Middle East |
| Bahrain, Iran, Israel, Jordan, Kuwait, Lebanon, Oman, Qatar, Turkey and United Arab Emirates |
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