The insurance market untouched by the crisis

While the crisis has severely affected the other sectors of the economic activity, insurance continues to grow at an impressive rate. The sector has increased from 30% to 35% in 2009 thanks to the compulsory insurance covers. According to the report of "Saudi Arabia Insurance Market 2012", health and personal accident policies are the classes of business which have experienced the greatest growth. Life business, which accounts for more than 50% of the market share in 2009, is poised to remain the most dynamic in view of the special interest shown to it by the new companies and thanks to the compulsory covers of foreigners living in the kingdom. Between 2010 and 2012, the non life insurance market is set to increase by 24% driven by motor (+30%), fire and aviation.

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