Middle East Insurance Market Outlook to 2017 - Motor and Health Segment to Channel the Growth

October 2013 | 422 pages | ID: M7B9089020DEN
Ken Research Private Ltd

Abstracts

The report titled ‘Middle East Insurance Market Outlook to 2017 - Motor and Health Segment to Channel the Growth’ provides a comprehensive analysis of the various aspects such as market size, segmentation, trends and developments and future projections of the life and various non-life insurances such as motor, health, accident and liability, fire, property, marine, cargo and others as key segments of the insurance markets of various countries which include Israel, Iran, UAE, Saudi Arabia, Bahrain and Jordan. The report provides the market shares in major segments and company profiles of major players in the market. It also covers brief snapshots of the insurance markets of Turkey, Egypt, Lebanon and Oman

Contents

1. MIDDLE EAST INSURANCE MARKET

1.1. Middle East Insurance Market Introduction and Size by Gross Written Premiums, 2007-2012
1.2. Middle East Insurance Market Segmentation by Country, 2007-2012
1.3. Middle East Insurance Market Segmentation by Life and Non-Life, 2007-2017
1.4. Middle East Life Insurance Market
  1.4.1. Middle East Life Insurance Market Size and Future Projections, 2007-2017
1.5. Middle East Non-Life Insurance Market
  1.5.1. Middle East Non-Life Insurance Market Segmentation by Insurance Type, 2007-2012
  1.5.2. Middle East Non-Life Insurance Market Size and Future Projections, 2007-2017

2. ISRAEL INSURANCE MARKET

2.1. Israel Insurance Market Introduction and Size by Gross Written Premiums, 2007-2012
2.2. Israel Insurance Market Segmentation by Life and Non-Life, 2007-2012
2.3. Israel Life Insurance Market
  2.3.1. Israel Life Insurance Market Introduction and Size, 2007-2012
  2.3.2. Market Share of Major Players in Israel Life Insurance Market, 2007-2012
  2.3.3. Future Projections for Israel Life Insurance Market, 2013-2017
2.4. Israel Non-Life Insurance Market
  2.4.1. Israel Non-Life Insurance Market Size, 2007-2012
  2.4.2. Israel Non-Life Insurance Market Segmentation, 2007-2012
  2.4.3. Market Share of Major Players in Israel Non-Life Insurance Market, 2007-2012
  2.4.4. Future Projections for Israel Non-Life Insurance Market, 2013-2017
2.5. Israel Motor Vehicle Property Insurance Market
  2.5.1. Israel Motor Vehicle Property Insurance Market Introduction and Size, 2007-2012
  2.5.2. Future Projections for Israel Motor Vehicle Property Insurance Market, 2013-2017
2.6. Israel Motor Vehicle Compulsory Insurance Market
  2.6.1. Israel Motor Vehicle Compulsory Insurance Market Introduction and Size, 2007-2012
  2.6.2. Market Share of Major Players in Israel Motor Insurance Market, 2010 and 2012
  2.6.3. Future Projections for Israel Motor Vehicle Compulsory Insurance Market, 2013-2017
2.7. Israel Health and Hospitalization Insurance Market
  2.7.1. Israel Health and Hospitalization Insurance Market Introduction and Size, 2007-2012
  2.7.2. Market Share of Major Players in Israel Health and Hospitalization Insurance Market, 2010 and 2012
  2.7.3. Future Projections for Israel Health and Hospitalization Insurance Market, 2013-2017
2.8. Israel Loss of Property and Comprehensive Business Insurance Market
  2.8.1. Israel Loss of Property and Comprehensive Business Insurance Market Introduction and Size, 2007-2012
  2.8.2. Market Share of Major Players in Israel Loss of Property Insurance Market, 2010 and 2012
  2.8.3. Future Projections for Israel Loss of Property and Comprehensive Business Insurance Market, 2013-2017
2.9. Israel Comprehensive Flats Insurance Market
  2.9.1. Israel Comprehensive Flats Insurance Market Introduction and Size, 2007-2012
  2.9.2. Future Projections for Israel Comprehensive Flats Insurance Market, 2013-2017
2.10. Israel Personal Accidents Insurance Market
  2.10.1. Israel Personal Accidents Insurance Market Introduction and Size, 2007-2012
  2.10.2. Market Share of Major Players in Israel Personal Accident Insurance Market, 2010 and 2012
  2.10.3. Future Projections for Israel Personal Accidents Insurance Market, 2013-2017
2.11. Israel Employers Liability Insurance Market
  2.11.1. Israel Employers Liability Insurance Market Size and Future Projections, 2007-2017
2.12. Israel Engineering Insurance Market
  2.12.1. Israel Engineering Insurance Market Introduction and Size, 2007-2017
2.13. Israel Mortgage Banks Insurance Market
  2.13.1. Israel Mortgage Banks Insurance Market Size and Future Projections, 2007-2017
2.14. Israel Marine Freight Insurance Market
  2.14.1. Israel Marine Freight Insurance Market Introduction and Size, 2007-2012
  2.14.2. Future Projections for Israel Marine Freight Insurance Market, 2013-2017
2.15. Israel Aircraft & Vessel Insurances Market
  2.15.1. Israel Aircraft & Vessel Insurance Market Introduction and Size, 2007-2012
  2.15.2. Future Projections for Israel Aircraft & Vessel Insurance Market, 2013-2017
2.16. Israel Other Liabilities and Risks Insurance Market
  2.16.1. Israel Other Liabilities and Risks Insurance Market Introduction and Size, 2007-2017
2.17. Government Regulations in Israel Insurance Market
2.18. Israel Insurance Market Future Outlook and Projections, 2013-2017
2.19. Company Profiles of Major Players in Israel Insurance Market
2.20. Macroeconomic Factors
  2.20.1. Population, 2007-2017
  2.20.2. Healthcare Expenditure, 2007-2017
  2.20.3. GDP at Current Prices, 2007-2017
  2.20.4. Number of Motor Vehicles In-use, 2007-2017
  2.20.5. Government Outlay on Housing and Community Amenities, 2007-2017

3. IRAN INSURANCE MARKET

3.1. Iran Insurance Market Introduction and Size by Gross Written Premiums, 2007-2012
3.2. Iran Insurance Market Segmentation by Life and Non-Life, 2007-2012
3.3. Iran Life Insurance Market
  3.3.1. Iran Life Insurance Market Introduction and Size, 2007-2012
  3.3.2. Future Projections for Iran Life Insurance Market, 2013-2017
3.4. Iran Non-Life Insurance Market
  3.4.1. Iran Non-Life Insurance Market Size, 2007-2012
  3.4.2. Iran Non-Life Insurance Market Segmentation, 2007-2012
  3.4.3. Future Projections for Iran Non-Life Insurance Market, 2013-2017
3.5. Iran Motor Third Party Liability Insurance Market
  3.5.1. Iran Motor Third Party Liability Insurance Market Introduction and Size, 2007-2012
  3.5.2. Future Projections for Iran Motor Third Party Liability Insurance Market, 2013-2017 115
3.6. Iran Health Insurance Market
  3.6.1. Iran Health Insurance Market Introduction and Size, 2007-2012
  3.6.2. Future Projections for Iran Health Insurance Market, 2013-2017
3.7. Iran Motor Property Damage Insurance Market
  3.7.1. Iran Motor Property Damage Insurance Market Introduction and Size, 2007-2012
  3.7.2. Future Projections for Iran Motor Property Damage Insurance Market, 2013-2017
3.8. Iran Liability Insurance Market
  3.8.1. Iran Liability Insurance Market Introduction and Size, 2007-2012
  3.8.2. Future Projections for Iran Liability Insurance Market, 2013-2017
3.9. Iran Fire Insurance Market
  3.9.1. Iran Fire Insurance Market Introduction and Size, 2007-2012
  3.9.2. Future Projections for Iran Fire Insurance Market, 2013-2017
3.10. Iran Accident Insurance Market
  3.10.1. Iran Accident Insurance Market Introduction and Size, 2007-2012
  3.10.2. Future Projections for Iran Accident Insurance Market, 2013-2017
3.11. Iran Engineering Insurance Market
  3.11.1. Iran Engineering Insurance Market Introduction and Size, 2007-2017
3.12. Iran Cargo/Marine Insurance Market
  3.12.1. Iran Cargo/Marine Insurance Market Introduction and Size, 2007-2017
3.13. Iran Oil and Energy Insurance Market
  3.13.1. Iran Oil and Energy Insurance Market Introduction and Size, 2007-2017
3.14. Iran Aviation Insurance Market
  3.14.1. Iran Aviation Insurance Market Introduction and Size, 2007-2017
3.15. Iran Other Insurance Market
  3.15.1. Iran Other Insurance Market Introduction and Size, 2007-2017
3.16. Market Share of Major Players in Iran Insurance Market, 2011 and 2012
3.17. Government Regulations in Iran Insurance Market
3.18. Iran Insurance Market Future Outlook and Projections, 2013-2017
3.19. Company Profiles of Major Players in Iran Insurance Market
3.20. Macroeconomic Factors
  3.20.1. Population, 2007-2017
  3.20.2. Healthcare Expenditure, 2007-2017
  3.20.3. GDP at Current Prices, 2007-2017

4. UAE INSURANCE MARKET

4.1. UAE Insurance Market Introduction and Size by Gross Written Premiums, 2007-2012
4.2. UAE Insurance Market Segmentation by Life and Non-Life, 2007-2012
4.3. UAE Life Insurance Market
  4.3.1. UAE Life Insurance Market Introduction and Size, 2007-2012
  4.3.2. UAE Life Insurance Market Segmentation, 2007-2012
  4.3.3. Future Projections for UAE Life Insurance Market, 2013-2017
4.4. UAE Non-Life Insurance Market
  4.4.1. UAE Non-Life Insurance Market Size, 2007-2012
  4.4.2. UAE Non-Life Insurance Market Segmentation by Motor, Accident & Liability, Fire, Marine & Transport, Medical and Others, 2007-2012
  4.4.3. Future Projections for UAE Non-Life Insurance Market, 2013-2017
4.5. UAE Accident and Liability Insurance Market
  4.5.1. UAE Accident & Liability Insurance Market Introduction and Size, 2007-2012
  4.5.2. Future Projections for UAE Accident & Liability Insurance Market, 2013-2017
4.6. UAE Medical Insurance Market
  4.6.1. UAE Medical Insurance Market Introduction and Size, 2007-2012
  4.6.2. Future Projections for UAE Medical Insurance Market, 2013-2017
4.7. UAE Motor Insurance Market
  4.7.1. UAE Motor Insurance Market Introduction and Size, 2007-2012
  4.7.2. Future Projections for UAE Motor Insurance Market, 2013-2017
4.8. UAE Fire Insurance Market
  4.8.1. UAE Fire Insurance Market Introduction and Size, 2007-2012
  4.8.2. Future Projections for UAE Fire Insurance Market, 2013-2017
4.9. UAE Marine, Aviation and Inland, Transport Insurance Market
  4.9.1. UAE Marine, Aviation and Inland, Transport Insurance Market Introduction and Size, 2007-2012
  4.9.2. Future Projections for UAE Marine, Aviation and Inland, Transport Insurance Market, 2013-2017
4.10. UAE Other Insurances Market
  4.10.1. UAE Other Insurances Market Size and Future Projections, 2007-2017
4.11. Market Share of Major Players in UAE Insurance Market, 2007-2012
4.12. Government Regulations in UAE Insurance Market
4.13. Company Profiles of Major Players in UAE Insurance Market
4.14. UAE Insurance Market Future Outlook and Projections, 2013-2017
4.15. Macroeconomic Factors
  4.15.1. Population, 2007-2017
  4.15.2. Healthcare Expenditure, 2007-2017
  4.15.3. GDP at Current Prices, 2007-2017
  4.15.4. Number of Motor Vehicles Licensed, 2007-2017
  4.15.5. Non-Oil Merchandise Imports, 2007-2017

5. SAUDI ARABIA INSURANCE MARKET

5.1. Saudi Arabia Insurance Market Introduction and Size by Gross Written Premiums, 2007-2012
5.2. Saudi Arabia Insurance Market Segmentation by Life and Non-Life, 2007-2012
5.3. Saudi Arabia Life Insurance Market
  5.3.1. Saudi Arabia Life Insurance Market Introduction and Size, 2007-2012
  5.3.2. Saudi Arabia Life Insurance Market Future Projections, 2013-2017
5.4. Saudi Arabia Non-Life Insurance Market
  5.4.1. Saudi Arabia Non-Life Insurance Market Size, 2007-2012
  5.4.2. Saudi Arabia Non-Life Insurance Market Segmentation by General and Health, 2007-2012
    5.4.2.1. Saudi Arabia General Insurance Market Size, 2007-2012
    5.4.2.2. Saudi Arabia General Insurance Market Segmentation, 2007-2012
    5.4.2.3. Saudi Arabia Health Insurance Market Size, 2007-2012
    5.4.2.4. Market Share of Major Players in Saudi Arabia Health Insurance Market, 2011 and 2012
    5.4.2.5. Future Projections for Saudi Arabia Health Insurance Market, 2013-2017
  5.4.3. Future Projections for Saudi Arabia Non-Life Insurance Market, 2013-2017
5.5. Saudi Arabia Motor Insurance Market
  5.5.1. Saudi Arabia Motor Insurance Market Introduction and Size, 2007-2012
  5.5.2. Future Projections for Saudi Arabia Motor Insurance Market, 2013-2017
5.6. Saudi Arabia Property/Fire Insurance Market
  5.6.1. Saudi Arabia Property/Fire Insurance Market Introduction and Size, 2007-2012
  5.6.2. Future Projections for Saudi Arabia Property/Fire Insurance Market, 2013-2017
5.7. Saudi Arabia Engineering Insurance Market
  5.7.1. Saudi Arabia Engineering Insurance Market Introduction and Size, 2007-2012
  5.7.2. Future Projections for Saudi Arabia Engineering Insurance Market, 2013-2017
5.8. Saudi Arabia Marine Insurance Market
  5.8.1. Saudi Arabia Marine Insurance Market Introduction and Size, 2007-2012
  5.8.2. Future Projections for Saudi Arabia Marine Insurance Market, 2013-2017
5.9. Saudi Arabia Accident & Liability and Other Insurance Market
  5.9.1. Saudi Arabia Accident & Liability and Other Insurance Market Introduction and Size, 2007-2012
  5.9.2. Future Projections for Saudi Arabia Accident & Liability and Other Insurance Market, 2013-2017
5.10. Saudi Arabia Energy Insurance Market
  5.10.1. Saudi Arabia Energy Insurance Market Introduction and Size, 2007-2012
  5.10.2. Future Projections for Saudi Arabia Energy Insurance Market, 2013-2017
5.11. Saudi Arabia Aviation Insurance Market
  5.11.1. Saudi Arabia Aviation Insurance Market Introduction and Size, 2007-2012
  5.11.2. Future Projections for Saudi Arabia Aviation Insurance Market, 2013-2017
5.12. Market Share of Major Players in Saudi Arabia Insurance Market, 2009-2012
5.13. Government Regulations in Saudi Arabia Insurance Market
5.14. Company Profiles of Major Players in Saudi Arabia Insurance Market
5.15. Saudi Arabia Insurance Market Future Outlook and Projections, 2013-2017
5.16. Macroeconomic Factors
  5.16.1. Population, 2007-2017
  5.16.2. GDP at Current Prices, 2007-2017
  5.16.3. Healthcare Expenditure, 2007-2017
  5.16.4. Imports of Goods and Services, 2007-2017
  5.16.5. Vehicles Imported, 2007-2017
  5.16.6. Loans by Financial Institutions for Real Estate, 2007-2017

6. BAHRAIN INSURANCE MARKET

6.1. Bahrain Insurance Market Introduction and Size by Gross Written Premiums, 2007-2012
6.2. Bahrain Insurance Market Segmentation by Life and Non-Life, 2007-2012
6.3. Bahrain Life Insurance Market
  6.3.1. Bahrain Life Insurance Market Introduction and Size, 2007-2012
  6.3.2. Market Share of Major Players in Bahrain Life Insurance Market, 2008-2012
  6.3.3. Future Projections for Bahrain Life Insurance Market, 2013-2017
6.4. Bahrain Non-Life Insurance Market
  6.4.1. Bahrain Non-Life Insurance Market Size, 2007-2012
  6.4.2. Bahrain Non-Life Insurance Market Segmentation by Motor, Accident & Liability, Fire, Marine & Transport, Medical and Others, 2007-2012
  6.4.3. Future Projections for Bahrain Non-Life Insurance Market, 2013-2017
6.5. Bahrain Motor Insurance Market
  6.5.1. Bahrain Motor Insurance Market Introduction and Size, 2007-2012
  6.5.2. Market Share of Major Players in Bahrain Motor Insurance Market, 2008-2012
  6.5.3. Future Projections for Bahrain Motor Insurance Market, 2013-2017
6.6. Bahrain Fire, Property and Liability Insurance Market
  6.6.1. Bahrain Fire, Property and Liability Insurance Market Introduction and Size, 2007-2012
  6.6.2. Market Share of Major Players in Bahrain Fire, Property and Liability Insurance Market, 2008-2012
  6.6.3. Future Projections for Bahrain Fire, Property and Liability Insurance Market, 2013-2017
6.7. Bahrain Medical Insurance Market
  6.7.1. Bahrain Medical Insurance Market Introduction and Size, 2007-2012
  6.7.2. Market Share of Major Players in Bahrain Medical Insurance Market, 2008-2012
  6.7.3. Future Projections for Bahrain Medical Insurance Market, 2013-2017
6.8. Bahrain Engineering Insurance Market
  6.8.1. Bahrain Engineering Insurance Market Introduction and Size, 2007-2012
  6.8.2. Market Share of Major Players in Bahrain Engineering Insurance Market, 2008-2012
  6.8.3. Future Projections for Bahrain Engineering Insurance Market, 2013-2017
6.9. Bahrain Marine and Aviation Insurance Market
  6.9.1. Bahrain Marine and Aviation Insurance Market Introduction and Size, 2007-2012
  6.9.2. Market Share of Major Players in Bahrain Marine and Aviation Insurance Market, 2008-2012
  6.9.3. Future Projections for Bahrain Marine and Aviation Insurance Market, 2013-2017
6.10. Bahrain Miscellaneous Financial Loss Insurance Market
  6.10.1. Bahrain Miscellaneous Financial Loss Insurance Market Size and Future Projections, 2007-2017
  6.10.2. Market Share of Major Players in Bahrain Miscellaneous Financial Loss Insurance Market, 2008-2012
6.11. Bahrain Other Insurances Market
  6.11.1. Bahrain Other Insurances Market Size and Future Projections, 2007-2017
  6.11.2. Market Share of Major Players in Bahrain Other Insurances Market, 2008-2012
6.12. Government Regulations in Bahrain Insurance Market
6.13. Bahrain Insurance Market Future Outlook and Projections, 2013-2017
6.14. Company Profiles of Major Players in Bahrain Insurance Market
6.15. Macroeconomic Factors
  6.15.1. Population, 2007-2017
  6.15.2. Healthcare Expenditure, 2007-2017
  6.15.3. GDP at Current Prices, 2007-2017
  6.15.4. Number of Registered In-use Vehicles, 2007-2017
  6.15.5. Air Cargo Received, 2007-2017
  6.15.6. Bank Lending for Construction, 2007-2017

7. JORDAN INSURANCE MARKET

7.1. Jordan Insurance Market Introduction and Size by Gross Written Premiums, 2007-2012
7.2. Jordan Insurance Market Segmentation by Life and Non-Life, 2007-2012
7.3. Jordan Life Insurance Market
  7.3.1. Jordan Life Insurance Market Introduction and Size, 2007-2012
  7.3.2. Market Share of Major Players in Jordan Life Insurance Market, 2008-2012
  7.3.3. Future Projections for Jordan Life Insurance Market, 2013-2017
7.4. Jordan Non-Life Insurance Market
  7.4.1. Jordan Non-Life Insurance Market Size, 2007-2012
  7.4.2. Jordan Non-Life Insurance Market Segmentation by Motor, Accident & Liability, Fire, Marine & Transport, Medical and Others, 2007-2012
  7.4.3. Future Projections for Jordan Non-Life Insurance Market, 2013-2017
7.5. Jordan Motor Insurance Market
  7.5.1. Jordan Motor Insurance Market Introduction and Size, 2007-2012
  7.5.2. Market Share of Major Players in Jordan Motor Insurance Market, 2008-2012
  7.5.3. Future Projections for Jordan Motor Insurance Market, 2013-2017
7.6. Jordan Medical Insurance Market
  7.6.1. Jordan Medical Insurance Market Introduction and Size, 2007-2012
  7.6.2. Market Share of Major Players in Jordan Medical Insurance Market, 2008-2012
  7.6.3. Future Projections for Jordan Medical Insurance Market, 2013-2017
7.7. Jordan Fire and Other Damage to Property Insurance Market
  7.7.1. Jordan Fire and Other Damage to Property Insurance Market Introduction and Size, 2007-2012
  7.7.2. Market Share of Major Players in Fire and Other Damage to Property Insurance Market, 2008-2012
  7.7.3. Future Projections for Jordan Fire and Other Damage to Property Insurance Market, 2013-2017
7.8. Jordan Marine Insurance Market
  7.8.1. Jordan Marine Insurance Market Introduction and Size, 2007-2012
  7.8.2. Market Share of Major Players in Jordan Marine & Transport Insurance Market, 2008-2012
  7.8.3. Future Projections for Jordan Marine Insurance Market, 2013-2017
7.9. Jordan Aviation Insurance Market
  7.9.1. Jordan Aviation Insurance Market Introduction and Size, 2007-2012
  7.9.2. Jordan Aviation Insurance Market Future Outlook and Projections, 2013-2017
7.10. Jordan Liability Insurance Market
  7.10.1. Jordan Liability Insurance Market Introduction and Size, 2007-2012
  7.10.2. Market Share of Major Players in Jordan Liability Insurance Market, 2008-2012
  7.10.3. Future Projections for Jordan Liability Insurance Market, 2013-2017
7.11. Jordan Credit Insurance Market
  7.11.1. Jordan Credit & Suretyship Market Size and Future Projections, 2007-2017
7.12. Jordan Other Insurances Market
  7.12.1. Jordan Other Insurance Market Size and Future Projections, 2007-2017
  7.12.2. Market Share of Major Players in Jordan Other Insurances Market, 2008-2012
7.13. Government Regulations in Jordan Insurance Market
7.14. Jordan Insurance Market Future Outlook and Projections, 2013-2017
7.15. Company Profiles of Major Players in Jordan Insurance Market
7.16. Macroeconomic Factors
  7.16.1. Population, 2007-2017
  7.16.2. Healthcare Expenditure, 2007-2017
  7.16.3. GDP at Current Prices, 2007-2017
  7.16.4. Number of Licensed Vehicles, 2007-2017
  7.16.5. Gross Capital Formation from Real Estate Activities, 2007-2017

8. OTHER MAJOR COUNTRIES IN MIDDLE EAST INSURANCE MARKET

8.1. Turkey Insurance Market
  8.1.1. Turkey Insurance Market Introduction and Market Size, 2007-2017
  8.1.2. Turkey Insurance Market Segmentation, 2007-2012
  8.1.3. Turkey Non-Life Insurance Market Size and Segmentation, 2007-2012
8.2. Egypt Insurance Market
  8.2.1. Egypt Insurance Market Introduction and Market Size, 2007-2017
  8.2.2. Egypt Insurance Market Segmentation, 2007-2012
    8.2.2.1. Egypt Life Insurance Market, 2007-2012
    8.2.2.2. Egypt Non-Life Insurance Market, 2007-2012
8.3. Lebanon Insurance Market
  8.3.1. Lebanon Insurance Market Introduction and Market Size, 2007-2017
  8.3.2. Lebanon Insurance Market Segmentation, 2007-2012
  8.3.3. Lebanon Non-Life Insurance Market, 2007-2012
8.4. Oman Insurance Market
  8.4.1. Oman Insurance Market Introduction and Market Size, 2007-2017
  8.4.2. Oman Insurance Market Segmentation, 2007-2012

9. TRENDS AND DEVELOPMENTS IN MIDDLE EAST INSURANCE MARKET

Rapid Growth in the New Distribution Channels
Changing Investment Destinations of Insurance Companies
Growing Captive Insurance Companies in Middle East Region
Widening Prevalence of Mandatory Health Insurance
Strong Growth Potential in Takaful Segment
Bancassurance Emerging as a Strong Distribution Channel
Expanding Reinsurance Market in the Region
Growing Presence of Foreign Players in Middle East Insurance Market

10. MIDDLE EAST INSURANCE MARKET FUTURE OUTLOOK AND PROJECTIONS, 2013-2017

10.1. Cause and Effect Relationship between the Dependent and Independent Factors Prevailing in the Middle East Insurance Market
10.2. Future Projections for Middle East Insurance Market, 2013-2017

11. APPENDIX

11.1. Market Definition
11.2. Abbreviations
11.3. Research Methodology
  Data Collection Methods
  Approach
  Variables (Dependent and Independent)
  Multi Factor Based Sensitivity Model
  Final Conclusion
11.4. Disclaimer

List Of Figures

LIST OF FIGURES

Figure 1: Middle East Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 2: Middle East Insurance Market Segmentation by Country on the basis of Gross Witten Premiums in Percentage, 2007-2012
Figure 3: Middle East Insurance Market Segmentation and Future Projections by Life and Non-Life Insurance on the basis of Gross Witten Premiums in Percentage, 2007-2017
Figure 4: Middle East Life Insurance Market Size and Future Projections on the basis of Gross Written Premiums in USD Million, 2007-2017
Figure 5: Middle East Non-Life Insurance Market Segmentation by Insurance Type on the basis of Gross Witten Premiums in Percentage, 2007-2012
Figure 6: Middle East Non-Life Insurance Market Size and Future Projections on the basis of Gross Written Premiums in USD Million, 2007-2017
Figure 7: Israel Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 8: Israel Insurance Market Segmentation by Life and Non-Life on the basis of Gross Witten Premiums in Percentage, 2007-2012
Figure 9: Israel Life Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 10: Israel Life Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 11: Israel Non-Life Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 12: Israel Non-Life Insurance Market Segmentation on the basis of Gross Written Premiums in Percentage, 2007-2012
Figure 13: Israel Non-Life Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 14: Israel Motor Vehicle Property Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 15: Israel Motor Vehicle Property Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 16: Israel Motor Vehicle Compulsory Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 17: Israel Motor Vehicle Compulsory Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 18: Israel Health and Hospitalization Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 19: Israel Health and Hospitalization Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 20: Israel Loss of Property and Comprehensive Business Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 21: Israel Loss of Property and Comprehensive Business Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 22: Israel Comprehensive Flats Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 23: Israel Comprehensive Flats Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 24: Israel Personal Accidents Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 25: Israel Personal Accidents Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 26: Israel Employers Liability Insurance Market Size and Future Projections on the basis of Gross Written Premiums in USD Million, 2007-2017
Figure 27: Israel Engineering Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2017
Figure 28: Israel Mortgage Banks Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2017
Figure 29: Israel Marine Freight Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 30: Israel Marine Freight Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 31: Israel Aircraft and Vessel Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 32: Israel Aircraft and Vessel Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 33: Israel Other Liabilities and Risks Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2017
Figure 34: Israel Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 35: Israel Population in Million, 2007-2017
Figure 36: Israel Healthcare Expenditure in USD Million, 2007-2017
Figure 37: Israel GDP at Current Prices in USD Million, 2007-2017
Figure 38: Israel Number of Motor Vehicles In-use in Million, 2007-2017
Figure 39: Government Outlay on Housing and Community Amenities in USD Million, 2007-2017
Figure 40: Iran Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 41: Iran Insurance Market Segmentation by Life and Non-Life on the basis of Gross Witten Premiums in Percentage, 2007-2012
Figure 42: Iran Life Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 43: Iran Life Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 44: Iran Non-Life Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 45: Iran Non-Life Insurance Market Segmentation on the basis of Gross Written Premiums in Percentage, 2007-2012
Figure 46: Israel Non-Life Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 47: Iran Motor Third Party Liability Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 48: Iran Motor Third Party Liability Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 49: Iran Health Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 50: Iran Health Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 51: Iran Motor Property Damage Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 52: Iran Motor Property Damage Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 53: Iran Liability Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 54: Iran Liability Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 55: Iran Fire Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 56: Iran Fire Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 57: Iran Accident Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 58: Iran Accident Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 59: Iran Engineering Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2017
Figure 60: Iran Cargo/Marine Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2017
Figure 61: Iran Oil and Energy Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2017
Figure 62: Iran Aviation Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2017
Figure 63: Iran Other Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2017
Figure 64: Iran Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 65: Iran Population in Million, 2007-2017
Figure 66: Iran Healthcare Expenditure in USD Million, 2007-2017
Figure 67: Iran GDP at Current Prices in USD Million, 2007-2017
Figure 68: UAE Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 69: UAE Insurance Market Segmentation by Life and Non-life Insurance on the basis of Gross Witten Premiums in Percentage, 2007-2012
Figure 70: UAE Life Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 71: UAE Life Insurance Market Segmentation by New Life Business and Business in Force on the basis of Gross Witten Premiums in Percentage, 2007-2012
Figure 72: UAE Life Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 73: UAE Non-Life Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 74: UAE Non-Life Insurance Market Segmentation on the basis of Gross Witten Premiums in Percentage, 2007-2012
Figure 75: UAE Non-Life Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 76: UAE Accident and Liability Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 77: UAE Medical Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 78: UAE Medical Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 79: UAE Motor Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 80: UAE Motor Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 81: UAE Fire Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 82: UAE Fire Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 83: UAE Marine, Aviation and Inland, Transport Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 84: UAE Marine, Aviation and Inland, Transport Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 85: UAE Other Insurances Market Size on the basis of Gross Written Premiums in USD Million, 2007-2017
Figure 86: UAE Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 87: UAE Population in Million, 2007-2017
Figure 88: UAE Healthcare Expenditure in USD Million, 2007-2017
Figure 89: UAE GDP at Current Prices in USD Million, 2007-2017
Figure 90: UAE Number of Motor Vehicles Licensed in Million, 2007-2017
Figure 91: UAE Non-oil Merchandise Imports in USD Million, 2007-2017
Figure 92: Saudi Arabia Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 93: Saudi Arabia Insurance Market Segmentation by Life and Non-Life on the basis of Gross Witten Premiums in Percentage, 2007-2012
Figure 94: Saudi Arabia Life Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 95: Saudi Arabia Life Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 96: Saudi Arabia Non-Life Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 97: Saudi Arabia Non-Life Insurance Market Segmentation on the basis of Gross Witten Premiums in Percentage, 2007-2012
Figure 98: Saudi Arabia General Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 99: Saudi Arabia General Insurance Market Segmentation on the basis of Gross Witten Premiums in Percentage, 2007-2012
Figure 100: Saudi Arabia Health Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 101: Saudi Arabia Health Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 102: Saudi Arabia Non-Life Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 103: Saudi Arabia Motor Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 104: Saudi Arabia Motor Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 105: Saudi Arabia Property/Fire Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 106: Saudi Arabia Property/Fire Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 107: Saudi Arabia Engineering Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 108: Saudi Arabia Engineering Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 109: Saudi Arabia Marine Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 110: Saudi Arabia Marine Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 111: Saudi Arabia Accident & Liability and Other Insurances Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 112: Saudi Arabia Accident and Liability Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 113: Saudi Arabia Energy Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 114: Saudi Arabia Energy Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 115: Saudi Arabia Aviation Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 116: Saudi Arabia Aviation Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 117: Saudi Arabia Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 118: Saudi Arabia Population in Million, 2007-2017
Figure 119: Saudi Arabia GDP at Current Prices in USD Million, 2007-2017
Figure 120: Saudi Arabia Healthcare Expenditure in USD Million, 2007-2017
Figure 121: Saudi Arabia Imports of Goods and Services in USD Million, 2007-2017
Figure 122: Saudi Arabia Total Vehicles Imported in Million, 2007-2017
Figure 123: Saudi Arabia Loans Granted by Financial Institutions for Real Estate Sector in USD Million, 2007-2017
Figure 124: Bahrain Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 125: Bahrain Insurance Market Segmentation by Life and Non-Life on the basis of Gross Witten Premiums in Percentage, 2007-2012
Figure 126: Bahrain Life Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 127: Bahrain Life Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 128: Bahrain Non-Life Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 129: Bahrain Non-Life Insurance Market Segmentation on the basis of Gross Written Premiums in Percentage, 2007-2012
Figure 130: Bahrain Non-Life Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 131: Bahrain Motor Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 132: Bahrain Motor Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 133: Bahrain Fire, Property and Liability Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 134: Bahrain Fire, Property and Liability Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 135: Bahrain Medical Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 136: Bahrain Medical Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 137: Bahrain Engineering Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 138: Bahrain Engineering Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 139: Bahrain Marine and Aviation Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 140: Bahrain Marine and Aviation Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 141: Bahrain Miscellaneous Financial Loss Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2017
Figure 142: Bahrain Other Insurances Market Size on the basis of Gross Written Premiums in USD Million, 2007-2017
Figure 143: Bahrain Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 144: Bahrain Population in Million, 2007-2017
Figure 145: Bahrain Healthcare Expenditure in USD Million, 2007-2017
Figure 146: Bahrain GDP at Current Prices in USD Million, 2007-2017
Figure 147: Bahrain Number of Registered In-use Vehicles in Million, 2007-2017
Figure 148: Bahrain Air Cargo Received in Million Kg, 2007-2017
Figure 149: Bahrain Bank Lending for Construction in USD Million, 2007-2017
Figure 150: Jordan Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 151: Jordan Insurance Market Segmentation by Life and Non-Life on the basis of Gross Witten Premiums in Percentage, 2007-2012
Figure 152: Jordan Life Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 153: Jordan Life Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 154: Jordan Non Life Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 155: Jordan Non-Life Insurance Market Segmentation on the basis of Gross Written Premiums in Percentage, 2007-2012
Figure 156: Jordan Non-Life Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 157: Jordan Motor Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 158: Jordan Motor Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 159: Jordan Medical Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 160: Jordan Medical Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 161: Jordan Fire and Other Damage to Property Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 162: Jordan Fire and Other Damage to Property Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 163: Jordan Marine Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 164: Jordan Marine Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 165: Jordan Aviation Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 166: Jordan Aviation Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 167: Jordan Liability Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2012
Figure 168: Jordan Liability Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 169: Jordan Credit and Suretyship Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2017
Figure 170: Jordan Other Insurance Market Size on the basis of Gross Written Premiums in USD Million, 2007-2017
Figure 171: Jordan Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017
Figure 172: Jordan Population in Million, 2007-2017
Figure 173: Jordan Healthcare Expenditure in USD Million, 2007-2017
Figure 174: Jordan GDP at Current Prices in USD Million, 2007-2017
Figure 175: Jordan Number of Licensed Vehicles in Million, 2007-2017
Figure 176: Gross Capital Formation from Real Estate Activities in USD Million, 2007-2017
Figure 177: Middle East Insurance Market Future Projections on the basis of Gross Written Premiums in USD Million, 2013-2017

About

The report titled ‘Middle East Insurance Market Outlook to 2017 – Motor and Health Segment to Channel the Growth’ provides a comprehensive analysis of the various aspects such as market size, segmentation, trends and developments and future projections of the life and various non-life insurance such as motor, health, accident and liability, fire, property, marine, cargo and others as key segments of the insurance markets of various countries which include Israel, Iran, UAE, Saudi Arabia, Bahrain and Jordan. The report provides the market shares in major segments and company profiles of major players in the market. It also covers brief snapshots of the insurance markets of Turkey, Egypt, Lebanon and Oman.

The Middle East insurance industry has experienced a consistent positive growth over the past five years on account of high economic development, population growth, favorable regulatory environment and primarily increased awareness among the population in the region. The insurance industry of the region is dominated by Turkey, Israel, Iran, UAE and Kingdom of Saudi Arabia which together accounted for 90% of the gross premiums underwritten in the region in 2012. The various factors which have propelled the insurance industry in the Middle East region during 2007-2012 include various demographic factors such as, focus on economic diversification of various countries, compulsory health insurance schemes, favorable regulatory framework and increased consumer awareness level about insurance products and their benefits.

The insurance market in the region is increasingly becoming congested by a large number of local and foreign insurance companies. The growing competition is affecting the profitability especially those of the newly established and small insurance companies. The increasing fragmentation of the market is also affecting the underwriting capacities of the companies. The combined life and non-life gross written premiums (GWP) in the Middle East region amounted to USD ~ million in 2012 which increased at a CAGR of 13.2% since 2007 from USD 30,382.2 million of gross premiums.

Non-life segment in Middle East has consistently dominated the insurance market of the region with a contribution of 74.6% in 2007 and 75.8% in 2012. Middle East insurance market is segmented into ten countries which include Turkey, Israel, Iran, UAE, Saudi Arabia, Egypt, Lebanon, Oman, Jordan and Bahrain. Turkey is the largest insurance market in the region and accounts for ~% of the gross premiums underwritten in the region. This is closely followed by Israel which represents 22.5% of the premiums underwritten in Middle East region.

Israel

With total insurance premium of USD ~ million in 2012, the Israel insurance market is significant in absolute terms as well as percentage of GDP. The insurance penetration in the country is comparable with number of OECD countries. The market is dominated by life insurance which represented 54.6% of the gross premiums underwritten in the country in the year 2012. Motor vehicle propriety insurance is the largest segment and contributes 27.4% to the non-life insurance market.

Iran

As of 2011, the insurance market of Iran is comprised of 25 insurance companies with 850 branches, 25,304 insurance agents, 384 official brokers, 3,956 life insurance agents and 106 loss adjusters which were active in the country. The insurance premiums underwritten in the country has increased robustly during the last five years from USD 3,382.4 million in 2007 to USD ~ million in 2012 registering a CAGR of 26.6% during 2007-2012. Iran Insurance (Bimeh Iran) is the largest player in insurance market of Iran. It is a state owned company and holds ~% of market share in terms of gross written premiums.

UAE

The UAE life insurance segment represented 19.7% of the gross written premiums in the insurance market of the country in 2012. On the other hand around 80.3% of the gross premiums were written in the non-life insurance market of UAE in the same year. The life insurance market of UAE is classified into New Life business and Business in-force for the insurance companies on the basis of the gross written premiums. While the business in-force accounted for 69.1% of the gross premiums written in the life insurance market of the country in 2012, the new life business represented 30.9% of the written premiums by the life insurance companies in the same year. In the base case scenario analysis, the life insurance market of the country is projected to grow at a CAGR of 16.7% during 2012-2017 where the gross premiums written by the life insurers are estimated to reach USD ~ million in 2017 from USD ~ million in 2012.