Saudi Arabia Non-Life Insurance Market Summary, Competitive Analysis and Forecast to 2027

Saudi Arabia Non-Life Insurance Market Summary, Competitive Analysis and Forecast to 2027
Summary

Non-Life Insurance in Saudi Arabia industry profile provides top-line qualitative and quantitative summary information including: market size (value 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key HighlightsThe non-life insurance market consists of the general insurance market segmented into motor, property, liability and other insurance. The other segment is made up of non-life insurance products including health, travel, and accident cover among others. The value of the non-life insurance market is shown in terms of gross premium incomes. Gross premium income is defined as the insurer’s premium income for the year from its policies, calculated without reduction for reinsurance premiums paid or payable by the insurer.The Saudi Arabian non-life insurance market had total gross written premiums of $11.3 billion in 2022, representing a compound annual growth rate (CAGR) of 3.7% between 2017 and 2022.The Motor segment accounted for market's the largest proportion in 2022, with total gross written premiums of $6 billion, equivalent to 52.8% of the market's overall value.The Saudi Arabian non-life insurance market experienced moderate growth overall in the historical period between 2017 to 2022, with a growth rate of 5.1% in 2022.The cost of claims for non-life insurance companies will rise as a result of inflation increasing the expenses of Saudi Arabian insurance clients.ScopeSave time carrying out entry-level research by identifying the size, growth, and leading players in the non-life insurance market in Saudi ArabiaUse the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the non-life insurance market in Saudi ArabiaLeading company profiles reveal details of key non-life insurance market players’ global operations and financial performanceAdd weight to presentations and pitches by understanding the future growth prospects of the Saudi Arabia non-life insurance market with five year forecastsReasons to BuyWhat was the size of the Saudi Arabia non-life insurance market by value in 2022?What will be the size of the Saudi Arabia non-life insurance market in 2027?What factors are affecting the strength of competition in the Saudi Arabia non-life insurance market?How has the market performed over the last five years?