GCC Insurance Industry

Executive Summary

The GCC insurance industry is catching up with the global trend and has witnessed a CAGR quite higher than Global insurance industry between the period 2006 to 2012. The GCC insurance industry is poised for growth due to the rising income levels, high amount of expatriate population and the increasing awareness among the population about the benefits of insurance. Furthermore, the Government’s policies mandating insurance in some sectors and the growing demand for Islamic insurance is adding to the growth.

​In this report we have provided several details related to GCC insurance industry which include comparison of life/ non-life insurance penetration in the GCC and the World, trend in volumes of GCC life/ non-life insurance premiums, Takaful contributions by regions across the world, GCC insurance industry market size and its comparison with the world, GCC and world insurance penetration & density in 2012, new insurance operators in the GCC and various types of Takaful Models used in the GCC. The report provides details on the offerings, market size and outlook for Takaful insurance, Life Insurance, Non-Life Insurance, Health Insurance and Reinsurance. The report also presents emerging trends and challenges, SWOT and performance of leading market players in the GCC insurance industry.