MENA Zone: insurance market growth prospects
The General Arab Insurance Federation (GAIF) has conducted a study on the insurance market growth outlook in the MENA zone by 2030.
Six scenarios were presented:
- Average annual growth rate similar to that of the 2016-2019 period: the turnover would reach 67 billion USD in 2030.
- Average annual growth rate of 5% to 70 billion USD in 2030.
- Average annual growth rate of 7% to 84 billion USD in 2030.
- Average annual growth rate of 10% to 111 billion USD in 2030.
- A penetration rate of 3% against the current 1.53% would generate a turnover of 133 billion USD.
- Classification of the Arab insurance markets into three groups by level of development: relatively advanced, developed and emerging.
