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FINANCIAL NEWS
Saudi insurance market heads to massive growth: AXA
06 Oct 2011
(MENAFN) AXA’s Gulf CEO, Jerome Droesch, stated that he expects for the Saudi insurance market to grow by double digits over the course of the coming ten years, reported Arabian Business.
Droesch cited the massive growth to the future coverage of a yet to be insured sharia-compliant products market.
The CEO added that the shariha-compliant market is currently uninsured as Muslims are reluctant towards insurance due to a belief that it is against Islamic laws.
It is worth noting that AXA Gulf is an affiliate of France’s AXA , Europe’s second-biggest insurer.
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