Magazine date:
Jun 2010 Despite the crisis, the volume of written premiums has increased by 28% in the Gulf reaching 10.6 billion USD in 2009. There is still a great potential given the penetration rates which remain poor : 0.6% in Saudi Arabia, 2% in the United Arab Emirates, 1% in average in the Gulf while in Europe, it ranges between 5% and 15%. The motor business remains the most important, followed by health and property damage insurance. Life insurance remains poor as it accounts for only 15% of the overall volume against 60% in Europe.