Saudi Reinsurance Industry Propelled by Insurance Industry

Accelerated momentum of the insurance industry, strong broker community, and presence of professional reinsurers are escalating growth of Saudi Arabia reinsurance industry, says RNCOS.

NOIDA, India (prHWY.com) April 23, 2012 - According to a recent report by RNCOS, "Saudi Arabia Insurance Market Analysis", the potential for the reinsurance industry in Saudi Arabia is significant as most local insurance companies rely heavily on reinsurance. Robust growth momentum of the insurance industry, strong broker community, and presence of professional reinsurers in the region are some of the most relevant strengths of the reinsurance industry. Moreover, due to the shortage of underwriting skills, insurers are forced to reinsure significantly. This dependence is reflected in the high cession rate in the country. The general premium ceded in 2010 accounted for 43.4% of the general gross premium.

Further, Saudi Arabia has emerged as one of the most attractive insurance markets among the Gulf Co-operation Council countries. The insurance sector has not only achieved good results in terms of services provided, diversity of products, but also in terms of compliance with laws, regulations, and instructions issued. The country has been offering varied prospects to international insurance companies, who want to operate in the region. Escalating working population, compulsory insurance along with other factors is further complementing the industry growth. In 2010 also, the insurance sector performed in a relatively well and gross premium reached to the mark of SAR 16.4 Billion.

The report acquaints clients with an in-depth insight of the current performance of the insurance industry in Saudi Arabia. The segment-wise market potential of the insurance industry covered in our report facilitates a better analysis of the penetration level of insurance services. Our report also dissects each and every factor contributing to the rising attractiveness of the Saudi Arabian Insurance industry and facilitates a segment on the regulatory environment along with a brief overview of the key industry players. Overall the report provides information on the entire insurance market in Saudi Arabia.

For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM301.htm

Some of our related reports are:

- Booming Health Insurance in India (http://www.rncos.com/Report/IM250.htm)
- Poland Insurance Market Forecast to 2014 (http://www.rncos.com/Report/IM325.htm)
- Vietnam Insurance Sector Forecast to 2014 (http://www.rncos.com/Report/IM326.htm)
- UAE Insurance Market Forecast to 2012 (http://www.rncos.com/Report/IM023.htm)
- South African Insurance Industry Forecast to 2013 (http://www.rncos.com/Report/IM206.htm)

Check Related REPORTS on: http://www.rncos.com/Banking&Insurance.htm

About RNCOS:

RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.

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Tag Words: medgulf group

Categories: Health

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