Life Insurance in Saudi Arabia, Key Trends and Opportunities to 2020

LONDON, Feb. 13, 2017 /PRNewswire/ -- Synopsis
Timetric's 'Life Insurance in Saudi Arabia, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Saudi Arabian life insurance segment, and a comparison of the Saudi Arabian insurance industry with its regional counterparts.

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 (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Saudi Arabian economy and demographics, 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 'Life Insurance in Saudi Arabia, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Saudi Arabian life insurance segment, including:

- An overview of the Saudi Arabian life insurance segment

- The Saudi Arabian life insurance segment's growth prospects by category

- A comprehensive overview of the Saudi Arabian economy and demographics

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

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

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

- It provides historical values for the Saudi Arabian life insurance segment for the report's 2011–2015 review period, and projected figures for the 2015–2020 forecast period.

- It offers a detailed analysis of the key categories in the Saudi Arabian life insurance segment, and market forecasts to 2020.

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

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

- It profiles the top 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 life insurance segment, and each category within it.

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

- Assess the competitive dynamics in the 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
- Saudi Arabia's foreign labor force is a key driver of the life segment.

- The life insurance segment's penetration rate was 0.04% in 2015.

- Saudi Arabia has a relatively underdeveloped life segment in the Middle East. This is largely a result of a lack of awareness among Saudi nationals of the benefits of insurance, and a cultural reluctance towards insurance.

- In 2016, the government announced the National Transformation Program (NTP) 2020 and Saudi Vision 2030. Both plans aim to support economic development initiatives by diversifying the economy via non-oil sector development, and privatization initiatives.
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