MENA, decline of the non-life insurance market in 2018
The largest declines were recorded in Iran (-16.7%), Turkey (-16.7%) Egypt (-3.2%). However, Kuwait reported a strong increase in its non-life premiums (+14.9%), followed by Morocco (+7.7%) and Jordan (+6.6%).
The MENA insurance market remained highly monopolized by the non-life sector, which accounted for 82.8% of market share in 2018 against 81.9% in 2017. Two countries only, Morocco and Egypt, are endowed with a more or less balanced life and non-life portfolio.
MENA: Evolution of non-life insurance premiums between 2017 and 2018
In millions USD| Ranking | Country | Premiums | 2017/2018 evolution | 2018 total premiums | 2018 non-life market share | ||
|---|---|---|---|---|---|---|---|
| 2018 | 2017 | 2018 | 2017 | ||||
| 27 | 24 | United Arab Emirates | 9607 | 9548 | 0.62% | 12461 | 77.10% |
| 28 | 28 | Saudi Arabia | 9157 | 9430 | -2.90% | 9463 | 96.77% |
| 29 | 25 | Tukey | 9035 | 10200 | -11.42% | 10452 | 86.44% |
| 36 | 34 | Iran | 6678 | 7796 | -14.34% | 7688 | 86.86% |
| 48 | - | Qatar | 3038 | 2941 | 3.30% | 3038 | 100.00% |
| 50 | 48 | Morocco | 2432 | 2244 | 8.38% | 4579 | 53.11% |
| 63 | 76 | Kuwait | 1145 | 974 | 17.56% | 1307 | 87.61% |
| 65 | 62 | Algeria | 1084 | 1100 | -1.45% | 1189 | 91.17% |
| 66 | 61 | Lebanon | 1079 | 1024 | 5.37% | 1604 | 67.27% |
| 69 | 64 | Oman | 960 | 917 | 4.69% | 1116 | 86.02% |
| 70 | 69 | Egypt | 902 | 931 | -3.11% | 1579 | 57.12% |
| 72 | 73 | Jordan | 775 | 724 | 7.04% | 895 | 86.59% |
| 78 | 78 | Tunisia | 684 | 674 | 1.48% | 870 | 78.62% |
| 82 | 80 | Bahrain | 582 | 575 | 1.22% | 724 | 80.39% |
Total MENA | 47158 | 49078 | -3.91% | 56965 | 82.78% | ||
Total world | 2373050 | 2233490 | 6.25% | 5193225 | 45.70% | ||
