According to a research report “Saudi Arabia Insurance Market to 2012”, Takaful insurance is one of the fastest growing segments of the Saudi Arabian insurance industry. The rising popularity of Takaful insurance in Saudi Arabia is based on its compliance with Islamic culture that encourages consumers to make investments in it.
Saudi Arabia has emerged as the largest market for Takaful insurance followed by Malaysia. Takaful insurance is growing at an annual growth rate of 15-20% globally, but it will grow at faster rate in Saudi Arabia because premium paid by the insured people is considered as donation and not premium.
The report also discusses the regulatory environment in detail to give an insight how it will help Takaful insurance and the overall insurance industry to grow in Saudi Arabia. It also provides detailed information of different industry aspects such as Retention Ratios, Penetration Rates and others.
“Saudi Arabia Insurance Market to 2012” shows a highly concentrated structure of the market, with the top players dominating the market. It provides segment level analysis of the industry along with emerging trends that may shape up with the betterment of economic conditions. The report contains comprehensive information of the key competitors and their areas of expertise.
Different segments covered in the report are - Health Insurance, Protection & Savings, General Insurance. General insurance is further segmented into Motor, Property, Marine, Fire, Engineering, etc. The research will help consultants, industry analysts and vendors to get an in-depth knowledge of the current, past and future performance of the industry.