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GCC insurance industry to value USD62.1b by 2020

14 Oct 2015

(MENAFN) Gulf Cooperation Council (GCC) insurance industry is expected to touch USD62.1 billion by 2020, registering a compound annual growth rate (CAGR) of 18.7 percent for the period between 2014 and 2020.

The recently published report by Alpen Capital depicts the current scenario of the insurance industry across the GCC states and major insurance segments, including life and non-life.

Soaring valuations and limited market share are discouraging consolidation in the industry. However, stricter solvency and capital requirement regulations may push small players to consider M&A route.

“The GCC insurance industry continues to grow at a double-digit CAGR despite a challenging 2014, backed by increased awareness and favorable regulatory changes,” managing director of Alpen Capital said.

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