Swiss Re's annual survey of the global insurance market indicated that insurance premiums generated in 11 Arab markets included in the survey totaled $35.9bn in 2017, constituting an increase of 3.9% from $34.5bn in 2016. The region's aggregate premiums accounted for 0.7% of global premiums and for 6.8% of premiums in emerging markets excluding China in 2017. Insurance firms in the UAE accounted for 37.7% of aggregate premiums in Arab markets last year, followed by Saudi Arabia (27.1%), Morocco (10.4%), Lebanon (4.6%), Egypt (4.4%), Algeria and Oman (3.4% each), Jordan (2.4%), Kuwait and Tunisia (2.3% each), and Bahrain (2.1%). Further, Arab markets generated $28.8bn in non-life premiums in 2017, up by 4.9% from $27.5bn in 2016. Non-life premiums produced in the Arab world accounted for 1.3% of global non-life premiums and for 11.5% of non-life premiums in emerging markets excluding China last year. Also, aggregate life premiums generated in Arab markets stood at $7.05bn in 2017, nearly unchanged from 2016, and accounted for 0.3% of global life premiums and for 2.5% of life premiums in emerging markets excluding China. In parallel, insurance penetration in Arab markets, or premiums relative to the size of the economy, stood at 1.9% of aggregate GDP in 2017 compared to penetration rates of 6.1% of GDP for global markets and 2.6% of GDP for emerging markets excluding China. Further, insurance density in Arab markets, or premiums per capita, reached $141.2 in 2017 compared to $649.8 and $104.8, respectively, for global and emerging markets excluding China. 
Source: Swiss Re, Byblos Research