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The Insurance Industry in Syria, Key Trends and Opportunities to 2019

The Insurance Industry in Syria, Key Trends and Opportunities to 2019

Synopsis

Timetric’s 'The Insurance Industry in Syria, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers and challenges in the Syrian insurance industry.It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Syrian economy and demographics, and provides detailed information on the competitive landscape in the country.The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'The Insurance Industry in Syria, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Syrian insurance industry, including:

  • The Syrian insurance industry's growth prospects by segment and category
  • A comprehensive overview of the Syrian economy and demographics
  • details of the competitive landscape in the Syrian insurance industry
  • The various distribution channels in the Syrian insurance industry
  • Details of regulatory policy applicable to the Syrian insurance industry
  • Analysis of natural hazards in the Syrian insurance industry
Scope

This report provides a comprehensive analysis of the insurance industry in Syria:
  • It provides historical values for the Syrian insurance industry for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.
  • It offers a detailed analysis of the key segments in the Syrian insurance industry, and market forecasts to 2019.
  • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions.
  • It analyzes the various distribution channels in Syria.
  • It profiles the top insurance companies in Syria, and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Syrian insurance industry and each segment and category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Syrian insurance industry.
  • Assess the competitive dynamics in the Syrian insurance industry.
  • Identify growth opportunities and market dynamics in key segments.
  • Gain insights into key regulations governing the Syrian insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • The personal accident and health insurance segment posted a review period (2010–2014) compound annual growth rate (CAGR) of 11.1%.
  • To minimize operating expenses and increase coverage, insurers are focusing on alternate distribution channels such as bancassurance to distribute insurance products.
  • In August 2015, Arab Union Reinsurance Company signed an agreement with the Syrian General Organization for Insurance (SGOI) to cover transport risks (including land, sea and air) till December 31, 2016.
  • According to SISC, the commissions paid by the insurers to reinsurers increased annually by 21.6% in 2014.


  • Key Facts and Highlights
    • Table Syrian Insurance Industry - Key Facts
  • Executive Summary
  • Introduction
    • What is this Report About?
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • Economy and Demographics
  • Syrian Insurance Industry Overview
    • Table Syrian Insurance - Gross Written Premium by Segment (SYP Billion), 2010-2014
    • Table Syrian Insurance - Gross Written Premium by Segment (US$ Million), 2010-2014
    • Table Syrian Insurance - Gross Written Premium by Segment (SYP Billion), 2014-2019
    • Table Syrian Insurance - Gross Written Premium by Segment (US$ Million), 2014-2019
    • Table Syrian Insurance - Segmentation by Gross Written Premium (% Share), 2010-2019
  • Industry Segmentation
    • Life Insurance
      • Table Syrian Life Insurance - Gross Written Premium (SYP Million), 2010-2014
      • Table Syrian Life Insurance - Gross Written Premium (SYP Billion), 2014-2019
      • Table Syrian Life Insurance - Direct Written Premium (SYP Million), 2010-2014
      • Table Syrian Life Insurance - Direct Written Premium (SYP Million), 2014-2019
      • Table Syrian Life Insurance - Paid Claims (SYP Million), 2010-2014
      • Table Syrian Life Insurance - Paid Claims (SYP Million), 2014-2019
      • Table Syrian Life Insurance - Net Written Premium as a Percentage of Gross Written Premium (%), 2010-2014
      • Table Syrian Life Insurance - Net Written Premium as a Percentage of Gross Written Premium (%), 2010-2014 (%), 2014-2019
      • Table Syrian Life Insurance - Total Assets (SYP Million), 2010-2014
      • Table Syrian Life Insurance - Total Assets (SYP Million), 2014-2019
      • Table Syrian Life Insurance - Net Written Premium (SYP Million), 2010-2014
      • Table Syrian Life Insurance - Net Written Premium (SYP Billion), 2014-2019
    • Non-Life Insurance
      • Table Syrian Non-Life Insurance - Gross Written Premium by Category (SYP Billion), 2010-2014
      • Table Syrian Non-Life Insurance - Gross Written Premium by Category (US$ Million), 2010-2014
      • Table Syrian Non-Life Insurance - Gross Written Premium by Category (SYP Billion), 2014-2019
      • Table Syrian Non-Life Insurance - Gross Written Premium by Category (US$ Million), 2014-2019
      • Table Syrian Non-Life Insurance - Direct Written Premium by Category (SYP Billion), 2010-2014
      • Table Syrian Non-Life Insurance - Direct Written Premium by Category (US$ Million), 2010-2014
      • Table Syrian Non-Life Insurance - Direct Written Premium by Category (SYP Billion), 2014-2019
      • Table Syrian Non-Life Insurance - Direct Written Premium by Category (US$ Million), 2014-2019
      • Table Syrian Non-Life Insurance - Paid Claims (SYP Billion), 2010-2014
      • Table Syrian Non-Life Insurance - Paid Claims (SYP Billion), 2014-2019
      • Table Syrian Non-Life Insurance - Total Assets (SYP Billion), 2010-2014
      • Table Syrian Non-Life Insurance - Total Assets (SYP Billion), 2014-2019
      • Table Syrian Non-Life Insurance - Net Written Premiums (SYP Billion), 2010-2014
      • Table Syrian Non-Life Insurance - Net Written Premiums (SYP Billion), 2014-2019
      • Property insurance
        • Table Syrian Property Insurance - Gross Written Premium (SYP Billion), 2010-2014
        • Table Syrian Property Insurance - Gross Written Premium (SYP Billion), 2014-2019
      • Motor insurance
        • Table Syrian Motor Insurance - Gross Written Premium (SYP Billion), 2010-2014
        • Table Syrian Motor Insurance - Gross Written Premium (SYP Billion), 2014-2019
      • Marine, aviation and transit insurance
        • Table Syrian Marine, Aviation and Transit Insurance - Gross Written Premium (SYP Billion), 2010-2014
        • Table Syrian Marine, Aviation and Transit Insurance - Gross Written Premium (SYP Billion), 2014-2019
    • Personal Accident and Health Insurance
      • Table Syrian Personal Accident and Health Insurance - Gross Written Premium by Category (SYP Billion), 2010-2014
      • Table Syrian Personal Accident and Health Insurance - Gross Written Premium by Category (US$ Million), 2010-2014
      • Table Syrian Personal Accident and Health Insurance - Gross Written Premium by Category (SYP Billion), 2014-2019
      • Table Syrian Personal Accident and Health Insurance - Gross Written Premium by Category (US$ Million), 2014-2019
      • Table Syrian Personal Accident and Health Insurance - Direct Written Premium by Category (SYP Billion), 2010-2014
      • Table Syrian Personal Accident and Health Insurance - Direct Written Premium by Category (US$ Million), 2010-2014
      • Table Syrian Personal Accident and Health Insurance - Direct Written Premium by Category (SYP Billion), 2014-2019
      • Table Syrian Personal Accident and Health Insurance - Direct Written Premium by Category (US$ Million), 2014-2019
      • Table Syrian Personal Accident and Health Insurance - Paid Claims (SYP Billion), 2010-2014
      • Table Syrian Personal Accident and Health Insurance - Paid Claims (SYP Billion), 2014-2019
      • Table Syrian Personal Accident and Health Insurance - Total Assets (SYP Billion), 2010-2014
      • Table Syrian Personal Accident and Health Insurance - Total Assets (SYP Billion), 2014-2019
      • Table Syrian Personal Accident and Health Insurance - Net Written Premiums (SYP Billion), 2010-2014
      • Table Syrian Personal Accident and Health Insurance - Net Written Premiums (SYP Billion), 2014-2019
      • Personal accident insurance
        • Table Syrian Personal Accident Insurance - Gross Written Premium (SYP Million), 2010-2014
        • Table Syrian Personal Accident Insurance - Gross Written Premium (SYP Million), 2014-2019
      • Health insurance
        • Table Syrian Health Insurance - Gross Written Premium (SYP Billion), 2010-2014
        • Table Syrian Health Insurance - Gross Written Premium (SYP Billion), 2014-2019
      • Travel insurance
        • Table Syrian Travel Insurance - Gross Written Premium (SYP Million), 2010-2014
        • Table Syrian Travel Insurance - Gross Written Premium (SYP Million), 2014-2019
    • Reinsurance
      • Table Syrian Reinsurance - Premiums Ceded (Excluding Retrocession) by Insurance Segment (SYP Million), 2010-2014
      • Table Syrian Reinsurance - Premiums Ceded (Excluding Retrocession) by Insurance Segment (US$ Million), 2010-2014
      • Table Syrian Reinsurance - Premiums Ceded (Excluding Retrocession) by Insurance Segment (SYP Million), 2014-2019
      • Table Syrian Reinsurance - Premiums Ceded (Excluding Retrocession) by Insurance Segment (US$ Million), 2014-2019
      • Table Syrian Life Insurance - Percentage of Premiums Ceded (Excluding Retrocession), 2010-2014
      • Table Syrian Life Insurance - Percentage of Premiums Ceded (Excluding Retrocession), 2014-2019
      • Table Syrian Non-Life Insurance - Percentage of Premiums Ceded (Excluding Retrocession), 2010-2014
      • Table Syrian Non-Life Insurance - Percentage of Premiums Ceded (Excluding Retrocession), 2014-2019
      • Table Syrian Personal Accident and Health Insurance - Percentage of Premiums Ceded (Excluding Retrocession), 2010-2014
      • Table Syrian Personal Accident and Health Insurance - Percentage of Premiums Ceded (Excluding Retrocession), 2014-2019
  • Distribution Channel Outlook
  • Natural Hazards
    • Table Syrian Average Annual Loss by Hazard
    • Droughts
    • Storms
    • Floods
    • Man-Made Disasters
    • Exposure
  • Competitive Landscape
    • Overview
      • Table Syrian Insurance - Industry Shares, 2014
    • Leading Companies
      • Syrian General Insurance Corporation - company overview
        • Table Syrian General Insurance Corporation - Key Facts
      • Syrian National Insurance Company - company overview
        • Table Syrian national Insurance Company - Key Facts
      • Trust Syria Insurance Company - company overview
        • Table Trust Syria Insurance Company - Key Facts
      • Arab Orient Insurance Company - company overview
        • Table APA Insurance Ltd - Key Facts
      • Syrian Kuwait Insurance Company - company overview
        • Table Syrian Kuwait Insurance Company - Key Facts
  • Governance, Risk and Compliance
    • Table Syria - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulations
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Syria - Life Insurance Regulatory Framework
      • Property insurance
        • Table Syria - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Syria - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Syria - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Workmen's compensation
      • Motor third-party liability insurance
    • Supervision and Control
      • Syrian Insurance Supervisory Commission (SISC)
      • Syrian Insurance Federation (SIF)
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and penalties
    • Company Registration and Operations
      • Types of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margins
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Syria - Corporate Tax Rate for the Financial Year 2015
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution (ADR)
  • Appendix
    • Methodology
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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