Insurance in Saudi Arabia

Insurance in Saudi Arabia industry profile provides top-line qualitative and quantitative summary information including: market size (value 2010-14, and forecast to 2019). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the Saudi Arabia insurance market. Includes market size data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

The insurance market consists of the non-life insurance sector and the life insurance sector. The value of the market is shown in terms of gross premium incomes. The life insurance sector consists of mortality protection and annuity. The non-life insurance sector consists of accident and health, and property and casualty insurance segments. The insurance market depends on a variety of economic and non-economic factors, and future performance is difficult to predict. The forecast given in this report 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, such as house price growth, GDP growth and long-term interest rates. All currency conversions have been calculated at constant annual 2013 average exchange rates.

The Saudi Arabian insurance market is expected to generate total gross written premiums of $7.0bn in 2014, representing a compound annual growth rate (CAGR) of 12.3% between 2010 and 2014.

The non-life insurance segment is expected to be the market's most lucrative in 2014, with total gross written premiums of $6.7bn, equivalent to 96.5% of the market's overall value.

The performance of the market is forecast to decelerate, with an anticipated CAGR of 7.7% for the five-year period 2014 – 2019, which is expected to drive the market to a value of $10.1bn by the end of 2019.

Scope

Save time carrying out entry-level research by identifying the size, growth, and leading players in the insurance market in Saudi Arabia

Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the insurance market in Saudi Arabia

Leading company profiles reveal details of key insurance market players’ global operations and financial performance

Add weight to presentations and pitches by understanding the future growth prospects of the Saudi Arabia insurance market with five year forecasts

Macroeconomic indicators provide insight into general trends within the Saudi Arabia economy

Reasons to buy

What was the size of the Saudi Arabia insurance market by value in 2014?

What will be the size of the Saudi Arabia insurance market in 2019?

What factors are affecting the strength of competition in the Saudi Arabia insurance market?

How has the market performed over the last five years?

Companies mentioned

Allianz Group, AXA, United Cooperative Assurance Company and Saudi National Insurance Company

Table of Contents

TABLE OF CONTENTS

Executive Summary 2

Market value 2

Market value forecast 2

Category segmentation 2

Geography segmentation 2

Market rivalry 2

Market Overview 7

Market definition 7

Market analysis 7

Market Data 8

Market value 8

Market Segmentation 9

Category segmentation 9

Geography segmentation 10

Market Outlook 11

Market value forecast 11

Five Forces Analysis 12

Summary 12

Buyer power 13

Supplier power 15

New entrants 17

Threat of substitutes 18

Degree of rivalry 19

Leading Companies 20

Allianz Group 20

AXA 23

United Cooperative Assurance Company 27

Saudi National Insurance Company 28

Macroeconomic Indicators 29

Country Data 29

Methodology 31

Industry associations 32

Related MarketLine research 32

Appendix 33

About MarketLine 33

LIST OF TABLES

Table 1: Saudi Arabia insurance market value: $ billion, 201014(e) 8

Table 2: Saudi Arabia insurance market category segmentation: $ billion, 2014(e) 9

Table 3: Saudi Arabia insurance market geography segmentation: $ billion, 2014(e) 10

Table 4: Saudi Arabia insurance market value forecast: $ billion, 201419 11

Table 5: Allianz Group: key facts 20

Table 6: Allianz Group: key financials ($) 21

Table 7: Allianz Group: key financials (€) 21

Table 8: Allianz Group: key financial ratios 21

Table 9: AXA: key facts 23

Table 10: AXA: key financials ($) 24

Table 11: AXA: key financials (€) 25

Table 12: AXA: key financial ratios 25

Table 13: United Cooperative Assurance Company: key facts 27

Table 14: Saudi National Insurance Company: key facts 28

Table 15: Saudi Arabia size of population (million), 201014 29

Table 16: Saudi Arabia gdp (constant 2005 prices, $ billion), 201014 29

Table 17: Saudi Arabia gdp (current prices, $ billion), 201014 29

Table 18: Saudi Arabia inflation, 201014 30

Table 19: Saudi Arabia consumer price index (absolute), 201014 30

Table 20: Saudi Arabia exchange rate, 201014 30

LIST OF FIGURES

Figure 1: Saudi Arabia insurance market value: $ billion, 201014(e) 8

Figure 2: Saudi Arabia insurance market category segmentation: % share, by value, 2014(e) 9

Figure 3: Saudi Arabia insurance market geography segmentation: % share, by value, 2014(e) 10

Figure 4: Saudi Arabia insurance market value forecast: $ billion, 201419 11

Figure 5: Forces driving competition in the insurance market in Saudi Arabia, 2014 12

Figure 6: Drivers of buyer power in the insurance market in Saudi Arabia, 2014 13

Figure 7: Drivers of supplier power in the insurance market in Saudi Arabia, 2014 15

Figure 8: Factors influencing the likelihood of new entrants in the insurance market in Saudi Arabia, 2014 17

Figure 9: Factors influencing the threat of substitutes in the insurance market in Saudi Arabia, 2014 18

Figure 10: Drivers of degree of rivalry in the insurance market in Saudi Arabia, 2014 19

Figure 11: Allianz Group: revenues & profitability 22

Figure 12: Allianz Group: assets & liabilities 22

Figure 13: AXA: revenues & profitability 25

Figure 14: AXA: assets & liabilities 26

List of Tables

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List of Figures

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