Middle East Insurance Market Forecast to 2012

This publication has been discontinued on October 4, 2011.

Below is the updated product.

Middle East Insurance Market Forecast to 2012

Published: May, 2010

Product code: 119687

Introduction

Abstract

The Middle East insurance market is growing and changing rapidly. Although in comparison to other parts of the world, this market is relatively small, the scope for further expansion is huge. The region offers vast opportunities for existing as well as new players and is expected to grow at a compound rate of over 20% in near future, attributed to its highly untapped market, rising awareness level, health consciousness and initiatives taken by governments of various countries in the region, according to “Middle East Insurance Market Forecast to 2012”.

The report provides extensive research and in-depth analysis on the insurance sector of the Middle East. It will help clients to analyze the leading-edge opportunities critical to the success of the insurance industry in the region. Detailed data and analysis will help the clients to navigate through the evolving insurance markets of the region.

• Middle East
• UAE
• Saudi Arabia
• Turkey
• Oman
• Jordan
• Qatar
• Kuwait
• Bahrain
• Iran

The forecast given in this report is not based on a complex economic model, but 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.

This section provides business overview on the prominent players operating in the Middle East insurance industry, including American Life Insurance Company, Kuwait Insurance Company SAK, Gulf Insurance Company, Qatar Insurance Company and Anadolu Anonim Turk Sigorta Sirketi.

Table of Contents

1. Analyst View

2. Middle East Insurance Industry - An Overview

3. Why Middle East So Attractive for Insurers?

• 3.1 Low Penetration
• 3.2 Young and Educated Population
• 3.3 Motor and Fire Insurance
• 3.4 Government Initiatives
• 3.5 Rising Accident and Death Rate
• 3.6 Health Consciousness

4. Market Performance - By Country

• 4.1 UAE
• 4.2 Saudi Arabia
• 4.3 Kuwait
• 4.4 Bahrain
• 4.5 Iran
• 4.6 Israel
• 4.7 Jordan
• 4.8 Turkey
• 4.9 Qatar
• 4.10 Oman

5. Industry Analysis

• 5.1 Growth Prospects
  • 5.1.1 Health and Accidental Insurance
  • 5.1.2 Takaful Insurance
  • 5.1.3 Bancassurance
  • 5.1.4 Car Insurance
  • 5.1.5 Equipment and Property Insurance
• 5.2 Growth Hurdles
  • 5.2.1 Lack of Skills and Training
  • 5.2.2 Variability in Legal Framework
  • 5.2.3 Low Employment Ratio

6. Key Players

• 6.1 Migdal Insurance & Financial Holdings Ltd.
• 6.2 American Life Insurance Company
• 6.3 Middle East Insurance Company
• 6.4 Kuwait Insurance Company SAK
• 6.5 Gulf Insurance Company
• 6.6 Qatar Insurance Company
• 6.7 Anadolu Anonim Turk Sigorta Sirketi

List of Figures:

• Figure 2-1: Middle East - Insurance Premium (Billion US$), 2006-2008
• Figure 2-2: Middle East - Forecast for Insurance Premium (Billion US$), 2009-2012
• Figure 3-1: Middle East* - Per Head Healthcare Spending (US$), 2003-2007
• Figure 4-1: UAE - Insurance Premium by City (%), 2006
• Figure 4-2: UAE - Insurance Premium (Million AED), 2005-2008
• Figure 4-3: UAE - Share of Life and Non-life Insurance Premium (%), 2007 & 2012
• Figure 4-4: UAE - Life Insurance Premium (Million AED), 2005-2008
• Figure 4-5: UAE - Share of Local and Foreign Firms in Life Insurance Premium (%), 2007
• Figure 4-6: UAE - Forecast for Life Insurance Premium (Million AED), 2009-2012
• Figure 4-7: UAE - Non-life Insurance Premium (Million AED), 2005-2008
• Figure 4-8: UAE - Share of Local Non-life Insurance Firms in Retention of Premium by Sub-category (%), 2007
• Figure 4-9: UAE - Forecast for Non-life Insurance Premium (Million AED), 2009-2012
• Figure 4-10: Saudi Arabia - Insurance Premium (Billion SAR), 2006-2008
• Figure 4-11: Saudi Arabia - Forecast for Insurance Premium (Billion SAR), 2009-2012
• Figure 4-12: Saudi Arabia - Insurance Premium by Category (%), 2007
• Figure 4-13: Saudi Arabia - Health Insurance Premium (Billion SAR), 2006-2008
• Figure 4-14: Saudi Arabia - Protection and Savings Insurance Premium (Billion SAR), 2006-2008
• Figure 4-15: Saudi Arabia - General Insurance Premium (Billion SAR), 2006-2008
• Figure 4-16: Saudi Arabia - General Insurance Premium by Sub-category (%), 2007
• Figure 4-17: Saudi Arabia - Claims Paid (Billion SAR), 2006 & 2007
• Figure 4-18: Kuwait - Insurance Market by Type of Company (%), 2006
• Figure 4-19: Kuwait - Insurance Premium (Million KWD), 2002-2008
• Figure 4-20: Kuwait - Forecast for Insurance Premium (Million KWD), 2009-2012
• Figure 4-21: Kuwait - Share of Life and Non-life Insurance Premium (%), 2006
• Figure 4-22: Kuwait - Life Insurance Premium (Million KWD), 2002-2008
• Figure 4-23: Kuwait - Non-life Insurance Premium (Million KWD), 2002-2008
• Figure 4-24: Kuwait - Non-life Insurance Premium by Sub-category (%), 2006
• Figure 4-25: Bahrain - Insurance Premium (Million BHD), 2002-2008
• Figure 4-26: Bahrain - Forecast for Insurance Premium (Million BHD), 2009-2012
• Figure 4-27: Bahrain - Share of Life and Non-life Insurance Premium (%), 2007
• Figure 4-28: Bahrain - Life Insurance Premium (Million BHD), 2005-2008
• Figure 4-29: Bahrain - Life Insurance Claims Paid (Million BHD), 2005-2007
• Figure 4-30: Bahrain - Non-life Insurance Premium (Million BHD), 2005-2008
• Figure 4-31: Bahrain - Non-life Insurance Polices Sold by Sub-category (%), 2007
• Figure 4-32: Bahrain - Non-life Insurance Claims Paid (Million BHD), 2005-2007
• Figure 4-33: Iran - Insurance Premium (Billion IRR), 2002-2008
• Figure 4-34: Iran - Forecast for Insurance Premium (Billion IRR), 2009-2012
• Figure 4-35: Iran - Insurance Premium by Sub-category (%), 2006
• Figure 4-36: Iran - Insurance Claims Paid (Trillion IRR), 2005 & 2006
• Figure 4-37: Iran - Insurance Claims Paid by Sub-category (%), 2006
• Figure 4-38: Israel - Insurance Premium (Billion NIS), 2003-2008
• Figure 4-39: Israel - Share of Life and Non-life Insurance Premium (%), 2007
• Figure 4-40: Israel - Forecast for Insurance Premium (Billion NIS), 2009-2012
• Figure 4-41: Israel - Life Insurance Premium (Billion NIS), 2003-2008
• Figure 4-42: Israel - Non-life Insurance Premium (Billion NIS), 2002-2008
• Figure 4-43: Israel - Non-life Insurance Premium by Sub-category (%), 2007
• Figure 4-44: Jordan - Insurance Premium (Million JOD), 2002-2008
• Figure 4-45: Jordan - Forecast for Insurance Premium (Million JOD), 2009-2012
• Figure 4-46: Jordan - Share of Life and Non-life Insurance Premium (%), 2008
• Figure 4-47: Jordan - Life Insurance Premium (Million JOD), 2004-2008
• Figure 4-48: Jordan - Non-life Insurance Premium (Million JOD), 2004-2008
• Figure 4-49: Jordan - Non-life Insurance Premium by Sub-category (%), 2008
• Figure 4-50: Jordan - Non-life Insurance Claims Paid by Sub-category (%), 2008
• Figure 4-51: Turkey - Insurance Premium (Billion US$), 2002-2008
• Figure 4-52: Turkey - Forecast for Insurance Premium (Billion US$), 2009-2012
• Figure 4-53: Turkey - Insurance Premium by Sub-category (%), 2007
• Figure 4-54: Turkey - Life and Non-life Insurance Premium (Billion US$), 2006-2008
• Figure 4-55: Turkey - Loss Ratio of Non-life Insurance Premium by Sub-category (%), 2006
• Figure 4-56: Qatar - Insurance Premium (Million US$), 2006-2008
• Figure 4-57: Qatar - Forecast for Insurance Premium (Million US$), 2009-2012
• Figure 4-58: Qatar - Share of Life and Non-life Insurance Premium (%), 2007
• Figure 4-59: Qatar - Life Insurance Premium (Million US$), 2006-2008
• Figure 4-60: Qatar - Non-life Insurance Premium (Million US$), 2006-2008
• Figure 4-61: Oman - Insurance Premium (Million US$), 2006-2008
• Figure 4-62: Oman - Forecast for Insurance Premium (Million US$), 2009-2012
• Figure 4-63: Oman - Insurance Premium by Sub-category (%), 2006
• Figure 4-64: Oman - Life and Non-life Insurance Premium (Million US$), 2006-2008
• Figure 4-65: Oman - Insurance Claims Paid by Sub-category (%), 2005
• Figure 5-1: Middle East* - Forecast for New Car Registrations (Thousand), 2009-2012

List of Tables:

• Table 4-1: Middle East - Insurance Premium by Country (Million US$), 2008
• Table 4-2: UAE - Number of Insurance Companies (2007)
• Table 4-3: Iran - Sales Network of Insurance Market (2004-2006)
• Table 4-4: Israel - Key Insurance Companies by Premium (Million NIS), 2006
• Table 4-5: Jordan - Number of Insurance Companies (2007)
• Table 4-6: Turkey - Number of Insurance Companies (2008)

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