Report Summary
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.
The report also features forecasts (2009-2012) on the insurance market of the following region/countries:
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.
Key Players
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 Türk Sigorta Sirketi.
Report Outline
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 Türk Sigorta Sirketi
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$), 2006-2008
Figure 4-65: Oman - Insurance Claims Paid by Sub-category (%), 2005
Figure 5-1: Middle East* - Forecast for New Car Registrations (Thousand), 2009-2012
Tables
Table 4-1: Middle East - Insurance Premium by Country (Million US$), 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)
