Non-Life Insurance in Saudi Arabia, Key Trends and Opportunities to 2021

Publisher Name :
Date: 14-Nov-2017
No. of pages: 120
Inquire Before Buying

Synopsis

Timetric's 'Non-Life Insurance in Saudi Arabia Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the Saudi Arabian non-life insurance segment, and a comparison of the Saudi Arabian insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2012-2016) and forecast period (2016-2021).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Saudi Arabian economy and demographics, explains the various types of natural hazard and their impact on the Saudi Arabian insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric'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.

Summary

Timetric's 'Non-Life Insurance in Saudi Arabia Key Trends and Opportunities to 2021' report provides in-depth market analysis, information and insights into the Saudi Arabian non-life insurance segment, including:

• The Saudi Arabian non-life segment's detailed outlook by product category

• A comprehensive overview of the Saudi Arabian economy and demographics

• A comparison of the Saudi Arabian non-life insurance segment with its regional counterparts

• The various distribution channels in the Saudi Arabian non-life insurance segment

• Detailed analysis of natural hazards and their impact on the Saudi Arabian insurance industry

• Details of the competitive landscape in the non-life insurance segment in Saudi Arabia

• Details of regulatory policy applicable to the Saudi Arabian insurance industry

Scope

This report provides a comprehensive analysis of the non-life insurance segment in Saudi Arabia:

• It provides historical values for the Saudi Arabian non-life insurance segment for the report's 2012-2016 review period, and projected figures for the 2016-2021 forecast period.

• It offers a detailed analysis of the key categories in the Saudi Arabian non-life insurance segment, and market forecasts to 2021.

• It provides a comparison of the Saudi Arabian non-life insurance segment with its regional counterparts

• It analyzes the various distribution channels for non-life insurance products in Saudi Arabia.

• It analyzes various natural hazards and their impact on the Saudi Arabian insurance industry

• It profiles the top non-life insurance companies in Saudi Arabia, 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 Saudi Arabian non-life insurance segment, and each category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the Saudi Arabian non-life insurance segment.

• Assess the competitive dynamics in the non-life insurance segment.

• Identify growth opportunities and market dynamics in key product categories.

• Gain insights into key regulations governing the Saudi Arabian insurance industry, and their impact on companies and the industry's future.

Key Highlights

• Effective from July 2, 2017, insurers and insurance service providers must only hire Saudi citizens for motor insurance claims settlement and customer services administration departments.

• Sanad Cooperative Insurance Company applied for the voluntary liquidation of its business due to a more than 50% loss of its capital in March 2017.

• On March 30, 2017, the Saudi Arabian Monetary Authority (SAMA) introduced Rules on the Collection and Exchange of Motor Insurance Information.

• On December 28, 2016, SAMA issued a new directive to motor insurance companies to provide no-claim discounts to their customers from April 1, 2017.

Non-Life Insurance in Saudi Arabia, Key Trends and Opportunities to 2021

Table of Contents
1 Key Facts And Highlights
2 Executive Summary
3 Economy And Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Profitability
4.2.3 Assets and investments
5 Outlook By Category
5.1 Property Insurance
5.1.1 Product overview
5.1.2 Premium
5.1.3 Profitability
5.2 Motor Insurance
5.2.1 Product overview
5.2.2 Profitability
5.3 Liability Insurance
5.3.1 Product overview
5.3.2 Premium
5.3.3 Profitability
5.4 Marine, Aviation and Transit Insurance
5.4.1 Product overview
5.4.2 Premium
5.4.3 Profitability
6 Distribution Channel Outlook
6.1 Direct marketing
6.2 Agencies
6.3 Brokers
6.4 Bancassurance
6.5 E-commerce
7 Natural And Man-Made Hazards
7.1 Flooding
7.2 Droughts
7.3 Earthquakes
7.4 Dust Storms
7.5 Man-made Hazards
7.6 Exposure
8 Competitive Landscape
8.1 Company Profiles
8.1.1 The company for Cooperative Insurance - company overview
8.1.2 The Mediterranean & Gulf Cooperative Insurance & Reinsurance Company - company overview
8.1.3 Malath Cooperative Insurance & Reinsurance Company - company overview
8.1.4 Al-Rajhi Company for Cooperative Insurance Company - company overview
8.1.5 United Cooperative Assurance Insurance Company - company overview
9 Governance, Risk And Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulation
9.3 Legislation and Market Practice by Type of Insurance
9.3.1 Life insurance
9.3.2 Property insurance
9.3.3 Motor insurance
9.3.4 Liability insurance
9.3.5 Marine, aviation and transit insurance
9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Motor third-party liability insurance
9.4.2 Social insurance system
9.4.3 Third-party liability insurance for high-risk facilities
9.4.4 Professional indemnity insurance for insurance intermediaries
9.4.5 Liability insurance for ships with respect to oil pollution
9.5 Supervision and Control
9.5.1 International Association of Insurance Supervisors
9.5.2 Saudi Arabian Monetary Agency
9.6 Non-Admitted Insurance Regulations
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and penalties
9.7 Company Registration and Operations
9.7.1 Type of insurance organization
9.7.2 Establishing a local company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margins
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxation
9.8.2 Withholding taxes on premium paid overseas
9.8.3 Corporate tax
9.8.4 VAT
9.8.5 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution
10 Databook
10.1 Policies and Premium
10.2 Claims and Expenses
10.3 Assets and Investments
10.4 Property Insurance
10.5 Property Insurance by Product
10.6 Motor Insurance
10.7 Liability Insurance
10.8 Marine, Aviation and Transit Insurance
11 Definitions And Methodology
11.1 Definitions
11.2 Methodology
12 ABOUT TIMETRIC
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric's Services
12.4 Disclaimer

List of Tables
Table 1: Saudi Arabia Non-Life Insurance - Key Facts, 2016
Table 2: Saudi Arabian Insurance - Industry Shares of Leading Insurers, 2016
Table 3: Saudi Arabian Government Credit Ratings
Table 4: Saudi Arabia Non-Life Insurance - Gross Written Premium (SAR Billion and US$ Billion), 2012-2016
Table 5: Saudi Arabia Non-Life Insurance - Penetration (%), 2012-2016
Table 6: Saudi Arabia Non-Life Insurance - Gross Written Premium (SAR Billion and US$ Billion), 2016-2021
Table 7: Saudi Arabia Non-Life Insurance - Penetration (%), 2016-2021
Table 8: Saudi Arabia Non-Life Insurance - Premium per Capita (SAR and US$), 2012-2016
Table 9: Saudi Arabia Non-Life Insurance - Premium per Capita (SAR and US$), 2016-2021
Table 10: Saudi Arabia Non-Life Insurance - Profitability Ratio (%), 2012-2016
Table 11: Saudi Arabia Non-Life Insurance - Profitability Ratio (%), 2016-2021
Table 12: Saudi Arabia Non-Life Insurance - Total Assets (SAR Billion and US$ Billion), 2012-2016
Table 13: Saudi Arabia Non-Life Insurance - Total Assets (SAR Billion and US$ Billion), 2016-2021
Table 14: Saudi Arabia Non-Life Insurance - Total Investment Income (SAR Million and US$ Million), 2012-2016
Table 15: Saudi Arabia Non-Life Insurance - Total Investment Income (SAR Million and US$ Million), 2016-2021
Table 16: Saudi Arabia Non-Life Insurance - Investment Portfolio (SAR Billion), 2012-2016
Table 17: Saudi Arabia Non-Life Insurance - Investment Portfolio (SAR Billion), 2016-2021
Table 18: Saudi Arabia Non-Life Insurance - Direct Written Premium by Category (SAR Billion), 2012-2016
Table 19: Saudi Arabia Non-Life Insurance - Direct Written Premium by Category (SAR Billion), 2016-2021
Table 20: Saudi Arabia Property Insurance - Direct Written Premium by Sub-Category (SAR Billion), 2012-2016
Table 21: Saudi Arabia Property Insurance - Direct Written Premium by Sub-Category (SAR Billion), 2016-2021
Table 22: Saudi Arabia Property Insurance - Loss Ratio (%), 2012-2016
Table 23: Saudi Arabia Property Insurance - Loss Ratio (%), 2016-2021
Table 24: Saudi Arabia Motor Insurance - Loss Ratio (%), 2012-2016
Table 25: Saudi Arabia Motor Insurance - Loss Ratio (%), 2016-2021
Table 26: Saudi Arabia Liability Insurance - Direct Written Premium (SAR Billion and US$ Billion), 2012-2016
Table 27: Saudi Arabia Liability Insurance - Direct Written Premium (SAR Billion and US$ Billion), 2016-2021
Table 28: Saudi Arabia Liability Insurance - Loss Ratio (%), 2012-2016
Table 29: Saudi Arabia Liability Insurance - Loss Ratio (%), 2016-2021
Table 30: Saudi Arabian Transport Network - Global Rankings
Table 31: Saudi Arabian - Export Values (SAR Billion) & Weight (Tons)
Table 32: Saudi Arabian - Import Values (SAR Billion) & Weight (Tons)
Table 33: Saudi Arabia Marine, Aviation and Transit Insurance - Direct Written Premium (SAR Billion and US$ Billion), 2012-2016
Table 34: Saudi Arabia Marine, Aviation and Transit Insurance - Direct Written Premium (SAR Billion and US$ Billion), 2016-2021
Table 35: Saudi Arabia Marine, Aviation and Transit Insurance - Loss Ratio (%), 2012-2016
Table 36: Saudi Arabia Marine, Aviation and Transit Insurance - Loss Ratio (%), 2016-2021
Table 37: Saudi Arabian Insurance - Industry Shares of Leading Insurers (%), 2016
Table 38: The Company for Cooperative Insurance Company - Key Facts
Table 39: The Company for Cooperative Insurance Company - Key Financials (SAR Million), 2012-2016
Table 40: The Mediterranean & Gulf Cooperative Insurance & Reinsurance Company - Key Facts
Table 41: The Mediterranean & Gulf Cooperative Insurance & Reinsurance Company - Key Financials (SAR Million), 2012-2016
Table 42: Malath Cooperative Insurance & Reinsurance Company - Key Facts
Table 43: Malath Cooperative Insurance & Reinsurance Company - Key Financials (SAR Million), 2012-2016
Table 44: Al-Rajhi Company for Cooperative Insurance Company - Key Facts
Table 45: Al-Rajhi Company for Cooperative Insurance Company - Key Financials (SAR Million), 2012-2016
Table 46: United Cooperative Assurance Insurance Company - Key Facts
Table 47: United Cooperative Assurance Insurance Company - Key Financials (SAR Million), 2012-2016
Table 48: Saudi Arabia - Insurance Regulatory Framework Key Features
Table 49: Saudi Arabia - Life Insurance Regulatory Framework
Table 50: Saudi Arabia - Property Insurance Regulatory Framework
Table 51: Saudi Arabia - Motor Insurance Regulatory Framework
Table 52: Saudi Arabia - Liability Insurance Regulatory Framework
Table 53: Saudi Arabia - Investment Limits for Insurance Companies
Table 54: Saudi Arabia - Corporate Tax Rates for the Financial Year 2016
Table 55: Saudi Arabian Insurance Industry - Policies and Premium, 2012-2016
Table 56: Saudi Arabian Insurance Industry - Policies and Premium, 2016-2021
Table 57: Saudi Arabian Non-Life Insurance - Claims and Expenses, 2012-2016
Table 58: Saudi Arabian Non-Life Insurance - Claims and Expenses, 2016-2021
Table 59: Saudi Arabian Non-Life Insurance - Assets and Investments, 2012-2016
Table 60: Saudi Arabian Non-Life Insurance - Assets and Investments, 2016-2021
Table 61: Saudi Arabian Non-Life Insurance - Property Insurance, 2012-2016
Table 62: Saudi Arabian Non-Life Insurance - Property Insurance, 2016-2021
Table 63: Saudi Arabian Non-Life Insurance - Property Insurance by Product, 2012-2016
Table 64: Saudi Arabian Non-Life Insurance - Property Insurance by Product, 2016-2021
Table 65: Saudi Arabian Non-Life Insurance - Motor Insurance, 2012-2016
Table 66: Saudi Arabian Non-Life Insurance - Motor Insurance, 2016-2021
Table 67: Saudi Arabian Non-Life Insurance - Liability Insurance, 2012-2016
Table 68: Saudi Arabian Non-Life Insurance - Liability Insurance, 2016-2021
Table 69: Saudi Arabian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2012-2016
Table 70: Saudi Arabian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2016-2021
Table 71: Insurance Industry Definitions

List of Figures
Figure 1: Saudi Arabian GDP Composition, 2016
Figure 2: Saudi Arabian Real GDP (SAR Trillion), 2012-2021
Figure 3: Saudi Arabian Current Account Balance as Percentage of GDP (%), 2012-2021
Figure 4: Saudi Arabian Consumer Price Inflation (%), 2012-2021
Figure 5: Saudi Arabian Unemployment Rate, 2012-2021
Figure 6: Saudi Arabian Population by Age Group, 1992-2025
Figure 7: Saudi Arabian Non-Life Insurance Penetration - Regional Comparison (%), 2016
Figure 8: Saudi Arabian Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2016
Figure 9: Saudi Arabia Non-Life Insurance - Gross Written Premium (SAR Billion), 2012-2021
Figure 10: Saudi Arabia Non-Life Insurance - Penetration (%), 2012-2021
Figure 11: Saudi Arabia Non-Life Insurance - Premium per Capita (SAR), 2012-2021
Figure 12: Saudi Arabia Non-Life Insurance - Profitability Ratio (%), 2012-2021
Figure 13: Saudi Arabia Non-Life Insurance - Total Assets (SAR Billion), 2012-2021
Figure 14: Saudi Arabia Non-Life Insurance - Total Investment Income (SAR Billion), 2012-2021
Figure 15: Saudi Arabia Non-Life Insurance - Investment Portfolio (SAR Billion), 2012-2021
Figure 16: Saudi Arabia Non-Life Insurance - Investment Portfolio Dynamics by Types of Investment, 2012-2021
Figure 17: Saudi Arabia Non-Life Insurance - Direct Written Premium by Category (SAR Billion), 2012-2021
Figure 18: Saudi Arabia Non-Life Insurance - Direct Written Premium Dynamics by Category, 2012-2021
Figure 19: Saudi Arabian Construction Output by Project Type (SAR Billion), 2012-2021
Figure 20: Saudi Arabia Property Insurance - Direct Written Premium by Sub-Category (SAR Billion), 2012-2021
Figure 21: Saudi Arabia Property Insurance - Direct Written Premium Dynamics by Sub-Category, 2012-2021
Figure 22: Saudi Arabia Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (SAR Billion and %), 2012-2021
Figure 23: Saudi Arabia Motor Insurance - Earned Premium, Incurred Loss and Loss Ratio (SAR Billion and %), 2012-2021
Figure 24: Saudi Arabia Liability Insurance - Direct Written Premium (SAR Billion), 2012-2021
Figure 25: Saudi Arabia Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (SAR Billion and %), 2012-2021
Figure 26: Saudi Arabian Marine, Aviation and Transit Insurance - Exports and Imports values (SAR Billion), 2011-2015
Figure 27: Saudi Arabia Marine, Aviation and Transit Insurance - Direct Written Premium (SAR Billion), 2012-2021
Figure 28: Saudi Arabia Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (SAR Billion and %), 2012-2021
Figure 29: Saudi Arabian Insurance - Industry Shares of the Leading Insurers (%), 2016
Figure 30: Saudi Arabia - Insurance Supervision and Control at Various Levels
Figure 31: Saudi Arabia - Insurance Regulatory Frameworks for Company Registration and Operation
  • Non-Life Insurance in Lithuania, Key Trends and Opportunities to 2021
    Published: 21-Nov-2017        Price: US 1450 Onwards        Pages: 126
    Synopsis Timetric's 'Non-Life Insurance in Lithuania Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the Lithuanian non-life insurance segment, and a comparison of the Lithuanian insurance industry with its regional counterparts. It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions du......
  • North America Agricultural Insurance Market by Manufacturers, Countries, Type and Application, Forecast to 2022
    Published: 16-Nov-2017        Price: US 4480 Onwards        Pages: 117
    Agricultural insurance protects against loss of or damage to crops or livestock. It has great potential to provide value to low-income farmers and their communities, both by protecting farmers when shocks occur and by encouraging greater investment in crops. However, in practice its effectiveness has often been constrained by the difficulty of designing good products and by demand constraints. Scope of the Report: This report focuses on the Agricultural Insurance in North A......
  • Non-Life Insurance in New Zealand, Key Trends and Opportunities to 2021
    Published: 14-Nov-2017        Price: US 1450 Onwards        Pages: 110
    Synopsis Timetric's 'Non-Life Insurance in New Zealand Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the New Zealand non-life insurance segment, and a comparison of the New Zealand insurance industry with its regional counterparts. It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retention......
  • The Insurance Industry in Burkina Faso, Key Trends and Opportunities to 2021
    Published: 06-Nov-2017        Price: US 1450 Onwards        Pages: 140
    Synopsis Timetric's 'The Insurance Industry in Burkina Faso, Key Trends and Opportunities to 2021' report provides detailed analysis of the market trends, drivers and challenges in the Burkinabé insurance industry. It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2012-2016) and forecast period (2016-2021). The repo......
  • Non-Life Insurance in Chile, Key Trends and Opportunities to 2021
    Published: 31-Oct-2017        Price: US 1450 Onwards        Pages: 141
    Synopsis Timetric's 'Non-Life Insurance in Chile Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the Chilean non-life insurance segment, and a comparison of the Chilean insurance industry with its regional counterparts. It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the r......
  • Non-Life Insurance in Egypt, Key Trends and Opportunities to 2021
    Published: 24-Oct-2017        Price: US 1450 Onwards        Pages: 112
    Synopsis Timetric's 'Non-Life Insurance in Egypt Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the Egyptian non-life insurance segment, and a comparison of the Egyptian insurance industry with its regional counterparts. It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the......
  • Non-Life Insurance in Bulgaria, Key Trends and Opportunities to 2021
    Published: 24-Oct-2017        Price: US 1450 Onwards        Pages: 135
    Synopsis Timetric's 'Non-Life Insurance in Bulgaria, Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the Bulgarian non-life insurance segment, and a comparison of the Bulgarian insurance industry with its regional counterparts. It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets and total investment income during the revie......
  • Insurance Company Profile: LV=
    Published: 23-Oct-2017        Price: US 1295 Onwards        Pages: 40
    "Insurance Company Profile: LV=", provides a comprehensive review of the company and its UK business. This includes its business structure and strategy, its financial performance, and activities around insurtech and digitization. The profile also provides a full SWOT analysis. LV= serves 5.8 million customers across the UK and offers both general insurance products and protection, pension, and investment products. Its brands include the direct sales brands Britannia Rescue and LV= Fri......
  • Non-Life Insurance in Croatia, Key Trends and Opportunities to 2020
    Published: 30-Sep-2017        Price: US 1450 Onwards        Pages: 157
    Synopsis Timetric's 'Non-Life Insurance in Croatia, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Croatian non-life insurance segment, and a comparison of the Croatian insurance industry with its regional counterparts. It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during ......
  • SERVICES
    Value for Money
    We believe in "optimum utilization of available budget and resources". While servicing our clients' (your) market research requirements, we keep the same approach in focus to help you get the best value for your $$s.
    Ever Growing Inventory
    Ranging from the smallest feasible / required data (datasheets, data facts, SWOT analysis, company profiles, etc) to full research reports that help you make decisions, our inventory is updated almost on a daily basis with the latest industry reports from domain experts that track more than 5000 niche sectors.
    One Stop Solution
    Need a custom research report on medical devices market? Require all available business intelligence on 3D printing industry? Exploring F&B sector of a particular country/region? RnRMarketResearch.com is your one-stop-solution to all market intelligence needs. We not only offer custom research and consulting services, we also "bundle" reports to meet your needs and help you fetch the data analysis you require for your business.
    Dedicated Client Engagement
    Not limited to only "finding" relevant reports for you, our client engagement team dedicates its efforts to understand your "business need" and accordingly maps available research data to help you move forward. Call "your" client engagement executive any time of your day and get your questions answered in order to make the correct business decision.
    Saving Time and Efforts
    Simply share your research requirement details with us and let us do all the hard work to find required intelligence for you. When you add up our "one stop solution" and "dedicated client engagement" services mentioned above, you obviously know the time and effort saving you do by working with us.
    Payment Flexibility
    Working with Fortune 500 organizations, we understand the importance of being flexible for payments. Share your payment terms with us and we will surely match up to them to ensure you get access to required business intelligence data without having to wait for the payment to be done.
    Post-Purchase Research Support
    Have questions after reading a report / datasheet bought through us? Not sure about the methodology used for data available in the research? Talk to us / Share your questions with us and if required, we will connect you with the analyst(s)/author(s) of the report(s) and ensure you get satisfactory answers for the same. Need more data / analysis / report(s) on the topic of your research/project? The RnRMarketResearch.com team is here for you 24X7 to support you with your post-purchase requirements. Subscription Offers & Packages (Get in touch with us for more details - sales@rnrmarketresearch.com / +1 888 391 5441 )
    • Ad Hoc
    • Pay - as - you - go / Bucket Subscriptions
    • Fixed Cost for #of reports
    • Customize / Personalize as per your needs