Middle East Insurance Industry Making Great Strides

Released on: March 12, 2008, 2:18 am

Press Release Author: Shushmul Maheshwari

Industry: Media

Press Release Summary: The insurance industry of the Middle East, especially the
UAE, is growing at a rapid pace and offering a host of opportunities to both
existing and new players.

Press Release Body: Middle East comprises of both rich and poor countries and
therefore, its insurance market too is different from other regions of the world. In
some Middle East countries, expenditure on life insurance is relatively low while
others expend too much on the insurance. This peculiarity of the Middle East
insurance market impelled RNCOS, a leading market research company, to thoroughly
study the market and find out reasons for this disparity. The result has been
compiled in a report, "Opportunities in Middle East Insurance Market" which says
that the Middle East insurance sector is growing and changing rapidly.

RNCOS has prepared its report on the basis of the market trends in the countries
including - Iran, Bahrain, Saudi Arabia, Israel, Oman, United Arab Emirates, Qatar,
Jordan, Kuwait and Turkey. The insurance industry is expected to grow at the
compound rate of 18-20% in near future, said the RNCOS report. This rapid growth
will offer enormous opportunities to existing as well as new players. But within the
Middle East countries, some countries have an edge over others in the insurance
industry. One such country is the UAE that has left behind other fellow countries
and is growing with YOY growth rate of over 27%. Turkey follows it at second place
with nearly 23.7% growth rate.

The research has identified that the UAE enjoys the maximum number of insurance
companies in the Gulf Cooperation Council (GCC). Moreover, it has closely studied
the factors that contributed in bringing the UAE on top among the Middle East
countries in the insurance sector with focus on how growth of the insurance industry
is influenced by rising awareness for health insurance among people

Turkey, says the RNCOS report, had written the highest premium in 2006 among all the
Middle East nations and its insurance sector contributes significantly to the
financial system. The report has evaluated the factors fostering growth in the
Turkish insurance sector. Moreover, it also incorporates extensive information about
the opportunities present in the Turkish insurance market.

"Opportunities in Middle East Insurance Market" provides comprehensive research and
in-depth analysis of the insurance industry in the Middle East. It incorporates
detailed analysis of the past trend, current status and future prospects by
concentrating on the driving forces and other related issues.

About RNCOS:

RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of
industry experts who analyze data collected from credible sources. They provide
industry insights and analysis that helps corporations to take timely and accurate
business decision in today\'s globally competitive environment.

For more information visit: http://www.rncos.com/Report/IM546.htm
Current Industry News: http://www.rncos.com/blog

Web Site: http://www.rncos.com

Contact Details: RNCOS E-Services Pvt Ltd.
Shushmul Maheshwari
Head of Business Development
29, 1st Floor, Patparganj Industrial Area, Delhi 92

Fax no: 91-11-4214-1228


  • Printer Friendly Format
  • Back to previous page...
  • Back to home page...
  • Submit your press releases...