Saudi Arabia Insurance Q2 2019
Saudi Arabia's insurance industry does offer significant growth potential. The country's population of over 34mn boastshigh average income levels and Saudi Arabia's ongoing efforts to expand and diversify the economy should translate to higherdemand in a range of insurance segments. There are however some significant barriers to growth in place, including restrictions onforeign investment which leaves the market reliant upon small domestic and regional providers which lack the necessary expertiseand capital to significantly scale up. Consumer awareness of the benefits of insurance cover is already relatively limited, restrictingdemand and dampening growth potential.
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