GCC zone: 2030 insurance turnover forecast

According to consulting firm Alpen Capital, the Gulf Cooperation Council (GCC) insurance market turnover is expected to reach 61.8 billion USD by 2030, up from 48.5 billion USD in 2025. This represents an estimated average annual growth rate of 4.9% over the 2025–2030 period.

Non-life insurance premiums are projected to reach 54.1 billion USD, while life insurance premiums are projected to total 7.7 billion USD.

With premiums estimated at 27.9 billion USD in 2030, Saudi Arabia is expected to retain its position as the region’s leading insurance market. It would be followed by the United Arab Emirates, Qatar, Kuwait, Oman, and Bahrain.