Insurance in Saudi Arabia

Insurance in Saudi Arabia industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2014-18, and forecast to 2023). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights

– The insurance market consists of the non-life and life insurance sectors. The value of the market is shown in terms of gross premium incomes.

– The Saudi Arabian insurance market had total gross written premiums of $9.5bn in 2018, representing a compound annual growth rate (CAGR) of 3.9% between 2014 and 2018.

– The non-life insurance segment was the market's most lucrative in 2018, with total gross written premiums of $9.1bn, equivalent to 96.8% of the market's overall value.

– The growth of the domestic economy slowed down significantly in 2016 due to the fall of oil prices, with infrastructure projects and other economic activities declining that year, having a knock on effect on commercial lines of insurance.

Scope

– Save time carrying out entry-level research by identifying the size, growth, major segments, 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

Reasons to buy

- What was the size of the Saudi Arabia insurance market by value in 2018?

- What will be the size of the Saudi Arabia insurance market in 2023?

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

- How has the market performed over the last five years?

- Who are the top competitiors in Saudi Arabia's insurance market?

Companies mentioned

The Company for Cooperative Insurance

Bupa Arabia for Cooperative Insurance Company

Al-Ahlia for Cooperative Insurance Company

The Mediterranean & Gulf Cooperative Insurance & Reinsurance Company (S.J.S.C)

Table of Contents

Table of Contents

1 Executive Summary

1.1. Market value

1.2. Market value forecast

1.3. Category segmentation

1.4. Geography segmentation

1.5. Market share

1.6. Market rivalry

1.7. Competitive Landscape

2 Market Overview

2.1. Market definition

2.2. Market analysis

3 Market Data

3.1. Market value

4 Market Segmentation

4.1. Category segmentation

4.2. Geography segmentation

5 Market Outlook

5.1. Market value forecast

6 Five Forces Analysis

6.1. Summary

6.2. Buyer power

6.3. Supplier power

6.4. New entrants

6.5. Threat of substitutes

6.6. Degree of rivalry

7 Competitive Landscape

7.1. Market share

7.2. Who are the leading players?

7.3. What strategies do the leading players follow?

7.4. Has there been any M&A activity in recent years?

8 Company Profiles

8.1. The Company for Cooperative Insurance

8.2. Bupa Arabia for Cooperative Insurance Company

8.3. Al-Ahlia for Cooperative Insurance Company

8.4. The Mediterranean & Gulf Cooperative Insurance & Reinsurance Company (S.J.S.C)

9 Macroeconomic Indicators

9.1. Country data

10 Appendix

10.1. Methodology

10.2. Industry associations

10.3. Related MarketLine research

10.4. About MarketLine

List of Tables

List of Tables

Table 1: Saudi Arabia insurance market value: $ billion, 2014-18

Table 2: Saudi Arabia insurance market category segmentation: $ billion, 2018

Table 3: Saudi Arabia insurance market geography segmentation: $ billion, 2018

Table 4: Saudi Arabia insurance market value forecast: $ billion, 2018-23

Table 5: Saudi Arabia insurance market share: % share, by value, 2018

Table 6: The Company for Cooperative Insurance: key facts

Table 7: The Company for Cooperative Insurance: Annual Financial Ratios

Table 8: The Company for Cooperative Insurance: Key Employees

Table 9: Bupa Arabia for Cooperative Insurance Company: key facts

Table 10: Bupa Arabia for Cooperative Insurance Company: Annual Financial Ratios

Table 11: Bupa Arabia for Cooperative Insurance Company: Key Employees

Table 12: Al-Ahlia for Cooperative Insurance Company: key facts

Table 13: Al-Ahlia for Cooperative Insurance Company: Annual Financial Ratios

Table 14: Al-Ahlia for Cooperative Insurance Company: Key Employees

Table 15: The Mediterranean & Gulf Cooperative Insurance & Reinsurance Company (S.J.S.C) : key facts

Table 16: The Mediterranean & Gulf Cooperative Insurance & Reinsurance Company (S.J.S.C) : Annual Financial Ratios

Table 17: The Mediterranean & Gulf Cooperative Insurance & Reinsurance Company (S.J.S.C) : Key Employees

Table 18: Saudi Arabia size of population (million), 2014-18

Table 19: Saudi Arabia gdp (constant 2005 prices, $ billion), 2014-18

Table 20: Saudi Arabia gdp (current prices, $ billion), 2014-18

Table 21: Saudi Arabia inflation, 2014-18

Table 22: Saudi Arabia consumer price index (absolute), 2014-18

Table 23: Saudi Arabia exchange rate, 2014-18

List of Figures

List of Figures

Figure 1: Saudi Arabia insurance market value: $ billion, 2014-18

Figure 2: Saudi Arabia insurance market category segmentation: % share, by value, 2018

Figure 3: Saudi Arabia insurance market geography segmentation: % share, by value, 2018

Figure 4: Saudi Arabia insurance market value forecast: $ billion, 2018-23

Figure 5: Forces driving competition in the insurance market in Saudi Arabia, 2018

Figure 6: Drivers of buyer power in the insurance market in Saudi Arabia, 2018

Figure 7: Drivers of supplier power in the insurance market in Saudi Arabia, 2018

Figure 8: Factors influencing the likelihood of new entrants in the insurance market in Saudi Arabia, 2018

Figure 9: Factors influencing the threat of substitutes in the insurance market in Saudi Arabia, 2018

Figure 10: Drivers of degree of rivalry in the insurance market in Saudi Arabia, 2018

Figure 11: Saudi Arabia insurance market share: % share, by value, 2018

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