MENA market: insurance premiums increase in 2021
According to a report published by the Swiss Re Institute, the MENA region has generated, in 2021, a global premium volume of 51.098 billion USD against 49.255 billion USD, which represents a 4.66% increase over one year.
The United Arab Emirates, Saudi Arabia and Turkey respectively occupy the top three places of the ranking. These three markets alone account for 66.23% of the total written premiums in the MENA region in 2021.
As for Egypt, it is the major driver of growth in the region with a 17.49% increase of its 2021 turnover to 2.808 billion USD.
MENA region: insurance market in 2021
Figures in millions USD| Ranking | Country | Turnover | 2020-2021 evolution | 2021 shares | ||
|---|---|---|---|---|---|---|
| 2021 | 2020 | 2021 | 2020 | |||
1 | 1 | United Arab Emirates | 12 111 | 11 572 | 4.66% | 23.70% |
2 | 3 | Saudi Arabia | 11 208 | 10 341 | 8.38% | 21.93% |
3 | 2 | Turkey | 10 526 | 10 803 | -2.56% | 20.60% |
4 | 4 | Morocco | 5 343 | 4 774 | 11.92% | 10.46% |
5 | 5 | Egypt | 2 808 | 2 390 | 17.49% | 5.49% |
6 | 7 | Lebanon | 1 757 | 1 564 | 12.34% | 3.44% |
7 | 6 | Qatar | 1 641 | 1 567 | 4.72% | 3.21% |
8 | 8 | Kuwait | 1 522 | 1 411 | 7.87% | 2.98% |
9 | 9 | Oman | 1 260 | 1 212 | 3.96% | 2.47% |
10 | 10 | Algeria | 1 075 | 1 095 | -1.83% | 2.10% |
11 | 11 | Tunisia | 985 | 900 | 9.44% | 1.93% |
12 | 12 | Jordan | 862 | 833 | 3.48% | 1.69% |
- | 13 | Bahrain | - | 793 | - | - |
| Total MENA | 51 098 | 49 255 | 3,74% | 100% | ||
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