Strong growth of non-life insurance in the MENA region over the 2016 - 2025 period
According to Munich Re, the MENA region will grow by 5.5% in non-life insurance in the 2016-2025 period.
Only the emerging countries of Asia will do better with 9.1%. The Sub-Saharan Africa, Eastern Europe, Latin America, the developed countries of Asia, Western Europe and North America will report a growth between 1.5% and 4.7%.
Three countries of the Middle East will rank in the top 10 in terms of growth in this sector: Saudi Arabia which will rank fourth with an average annual growth rate of 7.9%, Iran, in the fifth place, with 6.1% and Turkey, sixth, with 5.6%.
China will top the ranking with 9.3%.
In the short term, the growth rate of non-life insurance in the MENA region is estimated at more than 5% in 2016. It will exceed 6.5% in 2017.
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