GCC Insurance Industry

Pages
Pages 70
table
Tables 31
Chart
Charts 36
Price $2000

The GCC insurance industry is catching up with the global trend and has witnessed a CAGR quite higher than Global insurance industry between the perio.....

Summary

The GCC insurance industry is catching up with the global trend and has witnessed a CAGR quite higher than Global insurance industry between the period 2006 to 2012. The GCC insurance industry is poised for growth due to the rising income levels, high amount of expatriate population and the increasing awareness among the population about the benefits of insurance. Furthermore, the Government’s policies mandating insurance in some sectors and the growing demand for Islamic insurance is adding to the growth. 
In this report we have provided several details related to GCC insurance industry which include comparison of life/ non-life insurance penetration in the GCC and the World, trend in volumes of GCC life/ non-life insurance premiums, Takaful contributions by regions across the world, GCC insurance industry market size and its comparison with the world, GCC and world insurance penetration & density in 2012, new insurance operators in the GCC and various types of Takaful Models used in the GCC. The report provides details on the offerings, market size and outlook for Takaful insurance, Life Insurance, Non-Life Insurance, Health Insurance and Reinsurance. The report also presents emerging trends and challenges, SWOT and performance of leading market players in the GCC insurance industry.

TOC

  1. Executive Summary
  2. Industry Overview
    • GCC insurance industry structure
    • Market Size of Insurance Industry in the GCC
    • Status of Insurance Industry in the GCC
    • Growth Drivers
  3. Takaful Insurance
    • Overview
    • The Mudaraba Model
    • The Wakala Model
    • The Hybrid Model
    • The WAKALA WAQF Model
    • The Co-operative Model
    • Size and Penetration of the Takaful Market
    • Outlook 
  4. Life Insurance
    • Overview
    • Offerings
    • Market Size
    • Outlook
  5. Non-Life Insurance
    • Overview
    • Offerings
    • Market Size
    • Outlook
  6. Health Insurance
    • Overview 
    • Market Size
    • Outlook
  7. Reinsurance
    • Overview
    • Market Size
    • Outlook
  8. Regulations and Regulatory Framework
    • Solvency II Guidelines
    • Shariá Compliance
  9. Distribution Channels
    • Banks
    • Brokers
    • Agent
    • Online 
  10. Emerging Trends & Challenges/Issues
    • Automation of underwriting
    • Integrating the GCC Insurance Market
    • Increasing competition from foreign players
    • Scalability issues
    • Human resource constraints
  11. SWOT
    • Strengths 
    • Weakness 
    • Opportunities 
    • Threats
  12. Leading Market Players
    • Qatar Insurance Company (Qatar) 
    • Oman Insurance Company (UAE) 
    • The Company for Cooperative Insurance (Saudi) 
    • Gulf Insurance Company 
    • Bahrain Kuwait Insurance Company
    • Oman United Insurance Co
  13. Appendix

Tables & Charts

Tables:
2.1 Takaful Contributions by regions across the world in terms of Gross Written Premiums (GWP in mn USD)
2.2 Comparison of GCC and World Insurance markets in terms of premium volumes, 2006-2012 (in Mn USD)
2.3 Insurance Penetration and Density across the globe in 2012
2.4 Status of Compulsory Insurance in GCC Countries
2.5 GCC Gross National Incomes per capita at Current price (in US $)
2.6 New Insurance Operators in the GCC
3.1 Takaful Models used in GCC
3.2 Geographical spread of Takaful companies in the world
3.3 Takaful Contributions by country in terms of Gross Written Premiums (USDmn)
4.1 Country wise expected growth of Life Insurance Premiums in the GCC (US$ mn)
5.1 Non-Life Insurance premiums and assets (% of GDP), 2009
5.2 Country wise expected growth of Non-Life Insurance                              Premiums in the GCC (USD Mn)
6.1 Health Insurance Premiums written in GCC (2011)
6.2 Estimated Health Insurance Premiums in GCC
7.1 Future Estimates of the Reinsurance Market in the GCC (in Mn USD)
8.1 Insurance and Takaful regulation
12.1 Leading Market Players by Assets in the GCC (Figures in USD Millions)
12.2 Offerings provided by the Qatar Insurance Company
12.3 Financial Information of Qatar Insurance Company
12.4 Offerings provided by the Oman Insurance Company
12.5 Financial Information of Oman Insurance Company
12.6 Offerings provided by the Company for Cooperative Insurance
12.7 Financial Information of The Company for Cooperative Insurance
12.8 Offerings provided by the Gulf Insurance Company
12.9 Financial Information of Gulf Insurance Company K.S.C and its subsidiaries
12.10 Offerings provided by the Bahrain Kuwait Insurance Company
12.11 Financial Information of the Bahrain Kuwait Insurance Company
12.12 Offerings provided by the Oman United Insurance Co.
12.13 Financial Information of the Oman United Insurance Co.
13.1 Growth Rate Matrix based on Co-relation values
13.2 Estimated weightage of Health Insurance in the total Insurance premium volumes

Charts:
2.1 Comparison of Life Insurance Penetration in the GCC and the World (2007 – 12) (%)
2.2 Comparison of Non-Life Insurance Penetration in the GCC and the World (2007 – 12)
2.3 Comparison of Non-Life and Life Insurance Premiums in  the GCC
2.4 GCC Volume of Life Insurance Premiums in 2012 (in million USD)
2.5 GCC Volume of Non-Life Insurance Premiums in 2012  (in Million USD)
2.6 Volume of GCC Life and Non-Life Insurance Premiums in 2006-2017 (in Million USD)
2.7 GCC Insurance Penetration in 2012 (Premiums as a % of GDP)
2.8 GCC Insurance Density in 2012 (Premiums per Capita in USD)
2.9 Forms of Non-Life Insurance based on premiums paid (2010)
2.10 Expatriates Population in GCC %
2.11 Growth of Islamic Insurance in the GCC
2.12 Average penetration rates and assets (% of GDP),                          MENA and other regions
2.13 Contribution by Oil and Non-Oil Sectors to GDP in the GCC (in 2012)
2.14 GCC Population Pyramid in 2010
2.15 GCC Population Pyramid in 2050
3.1 Pictorial Representation of the Mudaraba Model
3.2 Pictorial Representation of the Wakala Model
3.3 Pictorial Representation of the Hybrid Model
3.4 Pictorial Representation of the Wakala Waqf Model
3.5 Pictorial Representation of the Co-operative Model
3.6 Comparison of GCC and Global Takaful Premium Volumes (in Mn USD)
4.1 Insurance premiums and assets (% of GDP), 2009
4.2 Life Insurance Premiums collected in GCC, 2007-2012 (US $Mn)
4.3 Expected Growth of Life Insurance Premiums in the GCC
4.4 Future Estimated Growth Rate of the Non-Life Insurance Premiums in GCC
5.1 Non-Life Insurance Premium Business split in GCC (2010)
5.2 GCC non-life premium split in GCC (2010)
5.3 Growth of Non-Life Premium in the GCC (USD Bn)
5.4 Expected Growth of Life Insurance Premiums in the GCC, 2013-2017 (USDBn)
5.5 Future Estimated Growth Rate of the Non-Life Insurance Premiums in GCC
6.1 Comparison of Government contribution towards healthcare in the GCC and USA (2010)
7.1 Country wise break up of Ceded and Retained Premiums in the GCC (2011)
7.2 Trend in premiums ceded to reinsurers in the GCC, 2005-2011
8.1 State of insurance regulations
9.1 Fastest growing distribution channels
10.1 Comparison of Cession Rates in 2011

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