Big growth in the turnover of Gulf States’ insurers

Magazine Issue:

Insurance business and young talents [3]

Magazine date:

Nov 2016

In the course of the last ten years, the turnover of the insurers in all Gulf Cooperation Council States has risen from 6.4 billion USD in 2006 to 24 billion USD in 2015.

Over a period of ten years, the average premium annual growth rate has been set at 16% for the countries mentioned.
This sustained growth has been accounted for by a series of factors including population growth, the prospering economies of the region and the rise in life expectancy rates.
Moreover, governments are investing more regularly in mega infrastructure projects while imposing a multitude of compulsory covers including health insurance plans.
Meanwhile, the boom of Islamic insurance has provided for considerable premium opportunities.

Read also:

Wed, 07/12/2016 - 14:43

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[3] https://www.atlas-mag.net/en/issue/insurance-business-and-young-talents
[4] http://www.atlas-mag.net/en/article/significant-changes-in-the-mena-insurance-market
[5] http://www.atlas-mag.net/en/article/strong-growth-of-non-life-insurance-in-the-mena-region-over-the-2016-2025-period