Middle East, sharp rise of insurance premiums by 2017

According to the Kuwait Financial Centre, insurers of Gulf countries are poised to experience a growth above 40% at 40 billion USD in 2017 of their premiums collection compared to 28 billion USD at the end of 2015.
© irvin calicut, CC BY-SA 3.0 (modified picture)

These forecasts are accounted for by the strong economic growth enjoyed by the region, while the insurance penetration rate remains, on average, of 1.14% for all countries in the region, against 6.5% worldwide.
The growth of average revenues, the increasing number of expatriates, the improved public perception of insurance and the efforts made by the authorities allowed the business to prosper considerably between 2006 and 2012.

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