Saudi Arabian Insurance Industry Market 2017 – Opportunity, Driving Trends and deep study 2022

WiseGuyReports.com with their unique quality of simplifying the market research study, presents a deep diving study report “Governance, Risk and Compliance – The Saudi Arabian Insurance Industry”

Saudi Arabian Insurance Industry Market

Synopsis 
‘Governance, Risk and Compliance – The Saudi Arabian Insurance Industry’ report is the result of extensive research into the insurance regulatory framework in Saudi Arabia.

It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operation of insurance and reinsurance companies and intermediaries.

The report brings together research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, and recent and upcoming changes in the regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.

 

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Summary 
The report provides insights into the governance, risk and compliance framework pertaining to the insurance industry in Saudi Arabia, including:

  • An overview of the insurance regulatory framework in Saudi Arabia.
  • The latest key changes, and changes expected in the country’s insurance regulatory framework.
  • Key regulations and market practices related to different types of insurance product in the country.
  • Rules and regulations pertaining to key classes of compulsory insurance, and the scope of non-admitted insurance in Saudi Arabia.
  • Key parameters including licensing requirements, permitted foreign direct investment, minimum capital requirements, solvency and reserve requirements, and investment regulations.
  • Details of the tax and legal systems in the country.

Scope 
• The report covers details of the insurance regulatory framework in Saudi Arabia.

  • The report contains details of the rules and regulations governing insurance products and insurance entities.
  • The report lists and analyzes key trends and developments pertaining to the country’s insurance regulatory framework.
  • The report analyzes the rules and regulations pertaining to the establishment and operation of insurance businesses in the country.
  • The report provides details of taxation imposed on insurance products and insurance companies.

Reasons To Buy 
• Gain insights into the insurance regulatory framework in Saudi Arabia.

  • Track the latest regulatory changes, and expected changes impacting the Saudi Arabian insurance industry.
  • Gain detailed information about the key regulations governing the establishment and operation of insurance entities in the country.
  • Understand key regulations and market practices pertaining to various types of insurance product.

Key Highlights 
• The Saudi Arabian insurance industry regulated by the Saudi Arabian Monetary Agency (SAMA).

  • 100% foreign direct investment is permitted in the Saudi Arabian insurance industry.
  • Composite insurance is not permitted in Saudi Arabia; however life insurers are permitted to operate health insurance business.
  • Non-admitted insurers and intermediaries are not permitted, with a few exceptions.
  • Motor third-party liability, and workmen’s compensation are the key compulsory classes of insurance.

 

  Table of Contents 

1 INTRODUCTION 
    1.1 What is this Report About? 
    1.2 Definitions 
2 GOVERNANCE, RISK AND COMPLIANCE 
    2.1 Legislation Overview and Historical Evolution 
    2.2 Latest Changes in Regulation 
    2.3 Legislation and Market Practice by Type of Insurance 
      2.3.1 Life insurance 
      2.3.2 Property insurance 
      2.3.3 Motor insurance 
      2.3.4 Liability insurance 
      2.3.5 Marine, aviation and transit insurance 
      2.3.6 Personal accident and health insurance 
    2.4 Compulsory Insurance 
      2.4.1 Motor third-party liability insurance 
      2.4.2 Social insurance system 
      2.4.3 Third-party liability insurance for high-risk facilities 
      2.4.4 Professional indemnity insurance for insurance intermediaries 
      2.4.5 Liability insurance for ships with respect to oil pollution 

     .Continued

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About Us

Wise Guy Reports is part of the Wise Guy Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe. Wise Guy Reports understand how essential statistical surveying information is for your organization or association. Therefore, we have associated with the top publishers and research firms all specialized in specific domains, ensuring you will receive the most reliable and up to date research data available.

 

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