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Market Research Report

The Insurance Industry in Palestine, Key Trends and Opportunities to 2022

Published by GlobalData Product code 269681
Published Content info 108 Pages
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The Insurance Industry in Palestine, Key Trends and Opportunities to 2022
Published: July 7, 2018 Content info: 108 Pages
Description

GlobalData's "The Insurance Industry in Palestine, Key Trends and Opportunities to 2022" report provides detailed analysis of the market trends, drivers and challenges in the Palestinian insurance industry.

It provides key performance indicators such as written premium and claims during the review period (2013-2017) and forecast period (2017-2022).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Palestinian economy and demographics, 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.

Inside this report, we look at the top themes, its predictions and identify winners and losers.

The report provides in-depth market analysis, information and insights into the Palestinian insurance industry, including -

  • The Palestinian insurance industry's growth prospects by segment and category
  • A comprehensive overview of the Palestinian economy and demographics
  • Details of the competitive landscape in the Palestinian insurance industry
  • The various distribution channels in the Palestinian insurance industry
  • Details of regulatory policy applicable to the Palestinian insurance industry
  • Analysis of natural hazards in the Palestinian insurance industry.

Scope

  • This report provides a comprehensive analysis of the insurance industry in Palestine
  • It provides historical values for the Palestinian insurance industry for the report's 2013-2017 review period, and projected figures for the 2017-2022 forecast period.
  • It offers a detailed analysis of the key segments in the Palestinian insurance industry, with market forecasts to 2022.
  • It covers an exhaustive list of parameters, including written premium and claims.
  • It analyzes the various distribution channels in Palestine.
  • It profiles the top insurance companies in Palestine, and outlines the key regulations affecting them.

Reasons to buy

  • Make strategic business decisions using in-depth historic and forecast market data related to the Palestinian insurance industry and each segment and category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Palestinian insurance industry.
  • Assess the competitive dynamics in the Palestinian insurance industry.
  • Identify the growth opportunities and market dynamics in key segments.
  • Gain insights into key regulations governing the Palestinian insurance industry and their impact on companies and the industry's future.
Table of Contents
Product Code: GDIS1707MR

Table of Contents

1 Key Facts and Highlights

2 Executive Summary

3 Economy and Demographics

4 Industry Outlook

  • 4.1 Industry Indicators
    • 4.1.1 Gross written premium
    • 4.1.2 Insurance density
    • 4.1.3 Paid claims

5 Life Insurance Outlook

  • 5.1 Segment Indicators
    • 5.1.1 Gross written premium
    • 5.1.2 Paid claims
    • 5.1.3 Penetration

6 General Insurance Outlook

  • 6.1 Segment Indicators
    • 6.1.1 Gross written premium
    • 6.1.2 Paid claims
    • 6.1.3 Penetration
    • 6.1.4 Loss ratio
    • 6.1.5 Assets and investments
  • 6.2 Property Insurance
    • 6.2.1 Gross written premium
    • 6.2.2 Claims
    • 6.2.3 Profitability
  • 6.3 Motor Insurance
    • 6.3.1 Gross written premium
    • 6.3.2 Claims
    • 6.3.3 Profitability
  • 6.4 Liability Insurance
    • 6.4.1 Gross written premium
    • 6.4.2 Claims
    • 6.4.3 Profitability
  • 6.5 Marine, Aviation and Transit Insurance
    • 6.5.1 Gross written premium
    • 6.5.2 Claims
    • 6.5.3 Profitability
  • 6.6 Personal Accident and Health Insurance
    • 6.6.1 Gross written premium
    • 6.6.2 Claims
    • 6.6.3 Profitability
  • 6.7 Miscellaneous
    • 6.7.1 Gross written premium
    • 6.7.2 Claims
    • 6.7.3 Profitability

7 Reinsurance Outlook

  • 7.1 Premium Ceded

8 Distribution Channel Outlook

9 Natural and Man-Made Hazards

  • 9.1 Flooding
  • 9.2 Winter Storms
  • 9.3 Man-Made Hazard
  • 9.4 Exposure

10 Competitive Landscape

  • 10.1 Company Profiles
    • 10.1.1 Trust International Insurance - company overview
    • 10.1.2 National Insurance Company - company overview
    • 10.1.3 Global United Insurance - company overview
    • 10.1.4 Al-Takaful Insurance - company overview
    • 10.1.5 Al-Ahleia insurance group - company overview

11 Governance, Risk and Compliance

  • 11.1 Legislation Overview and Historical Evolution
  • 11.2 Latest Changes in Regulation
  • 11.3 Legislation and Market Practice by Type of Insurance
    • 11.3.1 Life insurance
    • 11.3.2 Property insurance
    • 11.3.3 Motor insurance
    • 11.3.4 Liability insurance
    • 11.3.5 Marine, aviation and transit insurance
    • 11.3.6 Personal accident and health insurance
  • 11.4 Compulsory Insurance
    • 11.4.1 Motor third party liability insurance
    • 11.4.2 Workers' compensation insurance
  • 11.5 Supervision and Control
    • 11.5.1 International Association of Insurance Supervisors
    • 11.5.2 Palestine Capital Market Authority (PCMA)
    • 11.5.3 Palestinian Insurance Federation (PIF)
  • 11.6 Non-Admitted Insurance Regulation
    • 11.6.1 Overview
    • 11.6.2 Intermediaries
    • 11.6.3 Market practices
    • 11.6.4 Fines and Penalties
  • 11.7 Company Registration and Operations
    • 11.7.1 Type of insurance organization
    • 11.7.2 Establishing a local company
    • 11.7.3 Foreign ownership
    • 11.7.4 Types of license
    • 11.7.5 Capital requirements
    • 11.7.6 Solvency margin
    • 11.7.7 Reserve requirements
    • 11.7.8 Investment regulations
    • 11.7.9 Statutory return requirements
    • 11.7.10 Fee structure
  • 11.8 Taxation
    • 11.8.1 Insurance premium or policy taxation
    • 11.8.2 Withholding taxes on premium paid overseas
    • 11.8.3 Corporate tax
    • 11.8.4 VAT
    • 11.8.5 Captives
  • 11.9 Legal System
    • 11.9.1 Introduction
    • 11.9.2 Access to court
    • 11.9.3 Alternative dispute resolution (ADR)

12 Databook

  • 12.1 Life Insurance
    • 12.1.1 Policies and premium
    • 12.1.2 Claims and expenses
  • 12.2 General Insurance
    • 12.2.1 Policies and premium
    • 12.2.2 Claims and expenses
    • 12.2.3 Property insurance
    • 12.2.4 Property insurance by category
    • 12.2.5 Motor insurance
    • 12.2.6 Liability insurance
    • 12.2.7 Marine, aviation and transit insurance
    • 12.2.8 Personal accident and health insurance
    • 12.2.9 Miscellaneous

13 Definitions and Methodology

  • 13.1 Definitions
  • 13.2 Methodology

14 About GlobalData

  • 14.1 Contact GlobalData
  • 14.2 About GlobalData
  • 14.3 GlobalData's Services
  • 14.4 Disclaimer

List of Tables

  • Table 1: Palestinian Insurance Industry - Key Facts, 2017
  • Table 2: Palestinian Insurance Industry - Industry Shares of the Top Insurers, 2017
  • Table 3: Palestinian Insurance Industry - Gross Written Premium (ILS Million and US$ Million), 2013-2017
  • Table 4: Palestinian Insurance Industry - Gross Written Premium (ILS Million and US$ Million), 2017-2022
  • Table 5: Palestinian Insurance Industry - Density (ILS), 2013-2017
  • Table 6: Palestinian Insurance Industry - Density (ILS), 2017-2022
  • Table 7: Palestinian Insurance Industry - Paid Claims (ILS Million and US$ Million), 2013-2017
  • Table 8: Palestinian Insurance Industry - Paid Claims (ILS Million and US$ Million), 2017-2022
  • Table 9: Palestinian Life Insurance - Gross Written Premium (ILS Million and US$ Million), 2013-2017
  • Table 10: Palestinian Life Insurance - Gross Written Premium (ILS Million and US$ Million), 2017-2022
  • Table 11: Palestinian Life Insurance - Paid Claims (ILS Million and US$ Million), 2013-2017
  • Table 12: Palestinian Life Insurance - Paid Claims (ILS Million and US$ Thousands), 2017-2022
  • Table 13: Palestinian General Insurance - Gross Written Premium (ILS Million and US$ Million), 2013-2017
  • Table 14: Palestinian General Insurance - Gross Written Premium (ILS Million and US$ Million), 2017-2022
  • Table 15: Palestinian General Insurance - Paid Claims (ILS Million and US$ Million), 2013-2017
  • Table 16: Palestinian General Insurance - Paid Claims (ILS Million and US$ Million), 2017-2022
  • Table 17: Palestinian General Insurance - Total Investment Income (ILS Million and US$ Thousands), 2013-2017
  • Table 18: Palestinian General Insurance - Total Investment Income (ILS Thousands and US$ Thousands), 2017-2022
  • Table 19: Palestinian Property Insurance - Gross Written Premium (ILS Million and US$ Million), 2013-2017
  • Table 20: Palestinian Property Insurance - Gross Written Premium (ILS Million and US$ Million), 2017-2022
  • Table 21: Palestinian Property Insurance - Paid Claims (ILS Million and US$ Thousand), 2013-2017
  • Table 22: Palestinian Property Insurance - Paid Claims (ILS Million and US$ Thousand), 2017-2022
  • Table 23: Palestinian Property Insurance - Loss Ratio (%), 2013-2017
  • Table 24: Palestinian Property Insurance - Loss Ratio (%), 2017-2022
  • Table 25: Palestinian Motor Insurance - Gross Written Premium (ILS Million and US$ Million), 2013-2017
  • Table 26: Palestinian Motor Insurance - Gross Written Premium (ILS Million and US$ Million), 2017-2022
  • Table 27: Palestinian Motor Insurance - Paid Claims (ILS Million and US$ Million), 2013-2017
  • Table 28: Palestinian Motor Insurance - Paid Claims (ILS Million and US$ Million), 2017-2022
  • Table 29: Palestinian Motor Insurance - Loss Ratio (%), 2013-2017
  • Table 30: Palestinian Motor Insurance - Loss Ratio (%), 2017-2022
  • Table 31: Palestinian Liability Insurance - Gross Written Premium (ILS Million and US$ Million), 2013-2017
  • Table 32: Palestinian Liability Insurance - Gross Written Premium (ILS Million and US$ Million), 2017-2022
  • Table 33: Palestinian Liability Insurance - Paid Claims (ILS Million and US$ Million), 2013-2017
  • Table 34: Palestinian Liability Insurance - Paid Claims (ILS Million and US$ Million), 2017-2022
  • Table 35: Palestinian Liability Insurance - Loss Ratio (%), 2013-2017
  • Table 36: Palestinian Liability Insurance - Loss Ratio (%), 2017-2022
  • Table 37: Palestinian Marine, Aviation and Transit Insurance - Gross Written Premium (ILS Million and US$ Million), 2013-2017
  • Table 38: Palestinian Marine, Aviation and Transit Insurance - Gross Written Premium (ILS Million and US$ Million), 2017-2022
  • Table 39: Palestinian Marine, Aviation and Transit Insurance - Paid Claims (ILS Thousand and US$ Thousand), 2013-2017
  • Table 40: Palestinian Marine, Aviation and Transit Insurance - Paid Claims (ILS Thousand and US$ Thousand), 2017-2022
  • Table 41: Palestinian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2013-2017
  • Table 42: Palestinian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2017-2022
  • Table 43: Palestinian Personal Accident and Health Insurance - Gross Written Premium (ILS Million and US$ Million), 2013-2017
  • Table 44: Palestinian Personal Accident and Health Insurance - Gross Written Premium (ILS Million and US$ Million), 2017-2022
  • Table 45: Palestinian Personal Accident and Health Insurance - Paid Claims (ILS Million and US$ Million), 2013-2017
  • Table 46: Palestinian Personal Accident and Health Insurance - Paid Claims (ILS Million and US$ Million), 2017-2022
  • Table 47: Palestinian Personal Accident and Health Insurance - Loss Ratio (%), 2013-2017
  • Table 48: Palestinian Personal Accident and Health Insurance - Loss Ratio (%), 2017-2022
  • Table 49: Palestinian Miscellaneous - Gross Written Premium (ILS Million and US$ Million), 2013-2017
  • Table 50: Palestinian Miscellaneous - Gross Written Premium (ILS Million and US$ Million), 2017-2022
  • Table 51: Palestinian Miscellaneous - Paid Claims (ILS Thousand and US$ Thousand), 2013-2017
  • Table 52: Palestinian Miscellaneous - Paid Claims (ILS Thousand and US$ Thousand), 2017-2022
  • Table 53: Palestinian Miscellaneous - Loss Ratio (%), 2013-2017
  • Table 54: Palestinian Miscellaneous - Loss Ratio (%), 2017-2022
  • Table 55: Palestinian Reinsurance - Premium Ceded by Insurance Segment (ILS Million), 2013-2017
  • Table 56: Palestinian Reinsurance - Premium Ceded by Insurance Segment (ILS Million), 2017-2022
  • Table 57: Palestinian Insurance Industry - Agents and producers, 2013-2017
  • Table 58: Palestinian Insurance Industry - Operational Branches, 2013-2017
  • Table 59: Palestinian Insurance Industry - Shares of the Leading Insurers (%), 2017
  • Table 60: Palestinian Insurance Industry - Shares of the Leading Life Insurers (%), 2017
  • Table 61: Palestinian Insurance Industry - Shares of the Leading General Insurers (%), 2017
  • Table 62: Trust International Insurance - Key Facts
  • Table 63: National Insurance Company - Key Facts
  • Table 64 Global United Insurance - Key Facts
  • Table 65: Al-Takaful Palestinian Insurance - Key Facts
  • Table 66: Al-Mashreq Insurance - Key Facts
  • Table 67: Palestine - Insurance Regulatory Framework Key Features
  • Table 68: Palestine - Life Insurance Regulatory Framework
  • Table 69: Palestine - Property Insurance Regulatory Framework
  • Table 70: Palestine - Motor Insurance Regulatory Framework
  • Table 71: Palestine - Liability Insurance Regulatory Framework
  • Table 72: Palestine - Minimum Tariff for Mechanical Vehicle Insurance
  • Table 73: Palestine - Minimum Tariff for Workmen's Compensation Insurance
  • Table 74: Palestine - Deposit Requirements
  • Table 75: Palestine - Corporate Tax Rates for the Financial Year 2016
  • Table 76: Palestinian Life Insurance - Policies and Premium, 2013-2017
  • Table 77: Palestinian Life Insurance - Policies and Premium, 2017-2022
  • Table 78: Palestinian Life Insurance - Claims and Expenses, 2013-2017
  • Table 79: Palestinian Life Insurance - Claims and Expenses, 2017-2022
  • Table 80: Palestinian General Insurance - Policies and Premium, 2013-2017
  • Table 81: Palestinian General Insurance - Policies and Premium, 2017-2022
  • Table 82: Palestinian General Insurance - Claims and Expenses, 2013-2017
  • Table 83: Palestinian General Insurance - Claims and Expenses, 2017-2022
  • Table 84: Palestinian General Insurance - Property Insurance, 2013-2017
  • Table 85: Palestinian General Insurance - Property Insurance, 2017-2022
  • Table 86: Palestinian General Insurance - Property Insurance by Category, 2013-2017
  • Table 87: Palestinian General Insurance - Property Insurance by Category, 2017-2022
  • Table 88: Palestinian General Insurance - Motor Insurance, 2013-2017
  • Table 89: Palestinian General Insurance - Motor Insurance, 2017-2022
  • Table 90: Palestinian General Insurance - Liability Insurance, 2013-2017
  • Table 91: Palestinian General Insurance - Liability Insurance, 2017-2022
  • Table 92: Palestinian General Insurance - Marine, Aviation and Transit Insurance, 2013-2017
  • Table 93: Palestinian General Insurance - Marine, Aviation and Transit Insurance, 2017-2022
  • Table 94: Palestinian General Insurance - Personal Accident and Health Insurance, 2013-2017
  • Table 95: Palestinian General Insurance - Personal Accident and Health Insurance, 2017-2022
  • Table 96: Palestinian General Insurance - Miscellaneous, 2013-2017
  • Table 97: Palestinian General Insurance - Miscellaneous, 2017-2022
  • Table 98: Insurance Industry Definitions

List of Figures

  • Figure 1: Palestinian Real GDP (US$ Billion), 2013-2022
  • Figure 2: Palestinian Consumer Price Inflation (%), 2013-2022
  • Figure 3: Palestinian Current Account Balance as Percentage of GDP (%), 2013-2022
  • Figure 4: Palestinian Unemployment Rate, 2013-2022
  • Figure 5: Palestinian Population, 2013-2017
  • Figure 6: Palestinian Insurance Industry - Gross Written Premium (ILS Million), 2013-2022
  • Figure 7: Palestinian Insurance Industry - Density (ILS), 2013-2022
  • Figure 8: Palestinian Insurance Industry - Paid Claims (ILS Million), 2013-2022
  • Figure 9: Palestinian Life Insurance - Gross Written Premium (ILS Million), 2013-2022
  • Figure 10: Palestinian Life Insurance - Paid Claims (ILS Million), 2013-2022
  • Figure 11: Palestinian Life Insurance - Penetration (%), 2013-2017
  • Figure 12: Palestinian Life Insurance - Penetration (%), 2017-2022
  • Figure 13: Palestinian General Insurance - Gross Written Premium (ILS Million), 2013-2022
  • Figure 14: Palestinian General Insurance - Paid Claims (ILS Million), 2013-2022
  • Figure 15: Palestinian General Insurance - Penetration (%), 2013-2017
  • Figure 16: Palestinian General Insurance - Penetration (%), 2017-2022
  • Figure 17: Palestinian General Insurance - Loss Ratio (%), 2013-2017
  • Figure 18: Palestinian General Insurance - Loss Ratio (%), 2017-2022
  • Figure 19: Palestinian General Insurance - Total Investment Income (ILS Million), 2013-2022
  • Figure 20: Palestinian Property Insurance - Gross Written Premium (ILS Million), 2013-2022
  • Figure 21: Palestinian Property Insurance - Paid Claims (ILS Million), 2013-2022
  • Figure 22: Palestinian Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (ILS Million and %), 2013-2022
  • Figure 23: Palestinian Motor Insurance - Gross Written Premium (ILS Million), 2013-2022
  • Figure 24: Palestinian Motor Insurance - Paid Claims (ILS Million), 2013-2022
  • Figure 25: Palestinian Motor Insurance - Earned Premium, Incurred Loss and Loss Ratio (ILS Million and %), 2013-2022
  • Figure 26: Palestinian Liability Insurance - Gross Written Premium (ILS Million), 2013-2022
  • Figure 27: Palestinian Liability Insurance - Paid Claims (ILS Million), 2013-2022
  • Figure 28: Palestinian Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (ILS Million and %), 2013-2022
  • Figure 29: Palestinian Marine, Aviation and Transit Insurance - Gross Written Premium (ILS Million), 2013-2022
  • Figure 30: Palestinian Marine, Aviation and Transit Insurance - Paid Claims (ILS Thousand), 2013-2022
  • Figure 31: Palestinian Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (ILS Million and %), 2013-2022
  • Figure 32: Palestinian Personal Accident and Health Insurance - Gross Written Premium (ILS Million), 2013-2022
  • Figure 33: Palestinian Personal Accident and Health Insurance - Paid Claims (ILS Million), 2013-2022
  • Figure 34: Palestinian Personal Accident and Health Insurance - Earned Premium, Incurred Loss and Loss Ratio (ILS Million and %), 2013-2022
  • Figure 35: Palestinian Miscellaneous - Gross Written Premium (ILS Million), 2013-2022
  • Figure 36: Palestinian Miscellaneous - Paid Claims (ILS Thousand), 2013-2022
  • Figure 37: Palestinian Miscellaneous - Earned Premium, Incurred Loss and Loss Ratio (ILS Million and %), 2013-2022
  • Figure 38: Palestinian Reinsurance - Premium Ceded by Insurance Segment (ILS Million), 2013-2022
  • Figure 39: Palestinian Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2022
  • Figure 40: Palestinian General Insurance - Percentage of Reinsurance Ceded (%), 2013-2022
  • Figure 41: Palestinian Insurance Industry - Market Shares of Leading Insurers (%), 2017
  • Figure 42: Palestinian Insurance Industry - Market Shares of Leading Life Insurers (%), 2017
  • Figure 43: Palestinian Insurance Industry - Market Shares of Leading General Insurers (%), 2017
  • Figure 44: Palestine - Insurance Supervision and Control at Various Levels
  • Figure 45: Palestine - Insurance Regulatory Frameworks for Company Registration and Operation
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