Insurance in Saudi Arabia - Market Summary, Competitive Analysis and Forecast to 2025
Insurance in Saudi Arabia - Market Summary, Competitive Analysis and Forecast to 2025
SUMMARY
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
SUMMARY
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.
- 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
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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 MarketLine research
10.4. About MarketLine
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 MarketLine research
10.4. About MarketLine
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
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
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
