Insurance Sector

The insurance sector is considered one of the modern sectors emerged lately on the economical sectors arena in the GCC countries. The size of the investment in that sector is estimated about 17$ billion. This boom is linked to the prosperity and the pickup of the region’s countries and the flow of more foreign companies in that sector. UAE is the leader in this respect as the size of the insurance market in the year 2007 was estimated about 12.3 billion dirham compared to 10.3 billion dirham in 2006, with 42.5% from the total size of the market in the GCC countries. But the statistics indicate that the percentage of the contribution of the insurance sector in the GDI is in decrease in the region’s countries with about 1% only, compared to 2.7% from the return in emerging markets and 9.2% in the developed industrial countries. It is worth mentioning that the health insurance sector in Saudi Arabia and UAE come out to be one of the most important sectors.