Insurance in Saudi Arabia - Market Summary, Competitive Analysis and Forecast to 2025

Insurance in Saudi Arabia industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2016-20, and forecast to 2025). 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 $10.4bn in 2020, representing a compound annual growth rate (CAGR) of 1.3% between 2016 and 2020.
The non-life Insurance segment was the market's most lucrative in 2020, with total gross written premiums of $10.1bn, equivalent to 97.1% of the market's overall value.
Despite increasing slightly in recent years, insurance penetration in Saudi Arabia remains relatively low. However, the Saudi Arabian government plans to strengthen the country’s economic development in the coming years as part of its Saudi Vision 2030 program, which should have positive consequences for a range of financial service sectors, including 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 by both value and volume

Reasons to Buy

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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 leading players follow?
7.4. How are leading players incorporating new technology into their business strategies?
7.5. What has been the rationale behind recent M&A activity?
7.6. How has the COVID - 19 outbreak impacted the market?

8 Company Profiles

8.1. Bupa Arabia for Cooperative Insurance Company
8.2. The Company for Cooperative Insurance
8.3. The Mediterranean and Gulf Cooperative Insurance and Reinsurance Co

9 Macroeconomic Indicators

9.1. Country data

10 Appendix

10.1. Methodology
10.2. Industry associations
10.3. Related Research
10.4. About The Publisher

List of Tables

Table 1: Saudi Arabia insurance market value: $ billion, 2016 - 20
Table 2: Saudi Arabia insurance market category segmentation: $ billion, 2020
Table 3: Saudi Arabia insurance market geography segmentation: $ billion, 2020
Table 4: Saudi Arabia insurance market value forecast: $ billion, 2020 - 25
Table 5: Saudi Arabia insurance market share: % share, by value, 2020
Table 6: Bupa Arabia for Cooperative Insurance Company: key facts
Table 7: Bupa Arabia for Cooperative Insurance Company: Annual Financial Ratios
Table 8: Bupa Arabia for Cooperative Insurance Company: Key Employees
Table 9: The Company for Cooperative Insurance: key facts
Table 10: The Company for Cooperative Insurance: Annual Financial Ratios
Table 11: The Company for Cooperative Insurance: Key Employees
Table 12: The Mediterranean and Gulf Cooperative Insurance and Reinsurance Co: key facts
Table 13: The Mediterranean and Gulf Cooperative Insurance and Reinsurance Co: Annual Financial Ratios
Table 14: The Mediterranean and Gulf Cooperative Insurance and Reinsurance Co: Key Employees
Table 15: Saudi Arabia size of population (million), 2016 - 20
Table 16: Saudi Arabia gdp (constant 2005 prices, $ billion), 2016 - 20
Table 17: Saudi Arabia gdp (current prices, $ billion), 2016 - 20
Table 18: Saudi Arabia inflation, 2016 - 20
Table 19: Saudi Arabia consumer price index (absolute), 2016 - 20
Table 20: Saudi Arabia exchange rate, 2016 - 20

List of Figures

Figure 1: Saudi Arabia insurance market value: $ billion, 2016 - 20
Figure 2: Saudi Arabia insurance market category segmentation: % share, by value, 2020
Figure 3: Saudi Arabia insurance market geography segmentation: % share, by value, 2020
Figure 4: Saudi Arabia insurance market value forecast: $ billion, 2020 - 25
Figure 5: Forces driving competition in the insurance market in Saudi Arabia, 2020
Figure 6: Drivers of buyer power in the insurance market in Saudi Arabia, 2020
Figure 7: Drivers of supplier power in the insurance market in Saudi Arabia, 2020
Figure 8: Factors influencing the likelihood of new entrants in the insurance market in Saudi Arabia, 2020
Figure 9: Factors influencing the threat of substitutes in the insurance market in Saudi Arabia, 2020
Figure 10: Drivers of degree of rivalry in the insurance market in Saudi Arabia, 2020
Figure 11: Saudi Arabia insurance market share: % share, by value, 2020

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

Bupa Arabia for Cooperative Insurance Company
The Company for Cooperative Insurance
The Mediterranean and Gulf Cooperative Insurance and Reinsurance Co

Table Information

Report Attribute	Details
No. of Pages	42
Published	November 2021
Forecast Period	2020 - 2025
Estimated Market Value ( USD ) in 2020	$ 10.35 Billion
Forecasted Market Value ( USD ) by 2025	$ 11.93 Billion
Compound Annual Growth Rate	2.8%
Regions Covered	Saudi Arabia

License	Format	Properties	Price
SINGLE USER LICENSE PDF	The product is a PDF.	This is a single user license, allowing one user access to the product.	€342EUR$350USD£286GBP
SITE LICENSE PDF	The product is a PDF.	This is a site license, allowing all users within a given geographical location of your organization access to the product.	€684EUR$700USD£572GBP
ENTERPRISE LICENSE PDF	The product is a PDF.	This is an enterprise license, allowing all employees within your organization access to the product.	€1026EUR$1,050USD£857GBP

Key Highlights

Scope

Reasons to Buy

Table of Contents

Companies Mentioned (Partial List)

Table Information

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