The Insurance Industry in Palestine, Key Trends and Opportunities to 2021

  • ID: 4411836
  • Report
  • Region: Palestine
  • 98 pages
  • Timetric
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FEATURED COMPANIES

  • Al-Mashreq Insurance
  • Al-Takaful Insurance
  • Global United Insurance
  • National Insurance
  • Palestine Insurance
  • MORE
The 'The Insurance Industry in Palestine, Key Trends and Opportunities to 2021' report provides detailed analysis of the market trends, drivers and challenges in the Palestinian 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 (2012-2016) and forecast period (2016-2021).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Palestinian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together 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

The 'The Insurance Industry in Palestine, Key Trends and Opportunities to 2021' report provides in-depth market analysis, information and insights into the Palestinian insurance industry, including:
  • The Palestinian insurance industry's growth prospects by segment and category
  • A comprehensive overview of Palestinian economy and demographics
  • The detailed competitive landscape in the Palestinian insurance industry
  • The various distribution channels in the Palestinian insurance industry
  • Detailed regulatory policies of the Palestinian insurance industry
  • Analysis of natural hazards in Palestinian insurance industry
Scope

This report provides a comprehensive analysis of the insurance industry in Palestine:
  • It provides historical values for the Palestinian insurance industry for the report’s 2012-2016 review period, and projected figures for the 2016-2021 forecast period.
  • It offers a detailed analysis of the key segments in the Palestinian insurance industry, along with market forecasts until 2021.
  • 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 Palestine.
  • It profiles the top insurance companies in Palestine 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 Palestinian insurance industry and each segment and category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Palestinian insurance industry.
  • Assess the competitive dynamics in the Palestinian insurance industry.
  • Identify the growth opportunities and market dynamics in key segments.
  • Gain insights into key regulations governing the Palestinian insurance industry and their impact on companies and the industry's future.
Key Highlights:
  • The Palestinian National Security Committee introduced a social security scheme in October 2015 to cover all private sector employees. This will cover survivor’s pension, maternity and employment injury benefits, old age and disability benefits and funeral grants.
  • In February 2016, the Palestinian Monetary Authority (PMA), introduced credit life insurance as a regulatory requirement for taking into account actual risk and liability of credit providers associated with credit agreements.
  • According to the United Nations Conference on Trade and Development (UNCTAD), the total foreign direct investment (FDI) inflow in Palestine rose from ILS225.2 million (US$58.4 million) in 2012 to ILS1.0 billion (US$268.9 million) in 2016 at a CAGR of 46%.
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Al-Mashreq Insurance
  • Al-Takaful Insurance
  • Global United Insurance
  • National Insurance
  • Palestine Insurance
  • MORE
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Industry Outlook
4.1 Industry Indicators
4.1.1 Gross written premium
4.1.2 Claims
4.1.3 Assets and investments
5 Non-Life Insurance Outlook
5.1 Property Insurance
5.1.1 Gross written premium
5.1.2 Claims
5.1.3 Profitability
5.2 Motor Insurance
5.2.1 Gross written premium
5.2.2 Claims
5.2.3 Profitability
5.3 Liability Insurance
5.3.1 Gross written premium
5.3.2 Claims
5.3.3 Profitability
5.4 Marine, Aviation and Transit Insurance
5.4.1 Gross written premium
5.4.2 Claims
5.4.3 Profitability
6 Personal Accident and Health Insurance Outlook
6.1 Health Insurance
6.1.1 Gross written premium
6.1.2 Claims
6.1.3 Profitability
6.2 Premium Ceded
7 Distribution Channel Outlook
8 Natural and Man-Made Hazards
8.1 Flooding
8.2 Winter Storms
8.3 Man-Made Hazard
8.4 Exposure
9 Competitive Landscape
9.1 Company Profiles
9.1.1 Trust International Insurance - company overview
9.1.2 National Insurance Company - company overview
9.1.3 Global United Insurance - company overview
9.1.4 Al-Takaful Insurance - company overview
9.1.5 Al-Mashreq Insurance - company overview
10 Governance, Risk and Compliance
10.1 Legislation Overview and Historical Evolution
10.2 Latest Changes in Regulation
10.3 Legislation and Market Practice by Type of Insurance
10.3.1 Life insurance
10.3.2 Property insurance
10.3.3 Motor insurance
10.3.4 Liability insurance
10.3.5 Marine, aviation and transit insurance
10.3.6 Personal accident and health insurance
10.4 Compulsory Insurance
10.4.1 Motor third party liability insurance
10.4.2 Workers’ compensation insurance
10.5 Supervision and Control
10.5.1 International Association of Insurance Supervisors
10.5.2 Palestine Capital Market Authority (PCMA)
10.5.3 Palestinian Insurance Federation (PIF)
10.6 Non-Admitted Insurance Regulation
10.6.1 Overview
10.6.2 Intermediaries
10.6.3 Market practices
10.6.4 Fines and Penalties
10.7 Company Registration and Operations
10.7.1 Type of insurance organization
10.7.2 Establishing a local company
10.7.3 Foreign ownership
10.7.4 Types of license
10.7.5 Capital requirements
10.7.6 Solvency margin
10.7.7 Reserve requirements
10.7.8 Investment regulations
10.7.9 Statutory return requirements
10.7.10 Fee structure
10.8 Taxation
10.8.1 Insurance premium or policy taxation
10.8.2 Withholding taxes on premium paid overseas
10.8.3 Corporate tax
10.8.4 VAT
10.8.5 Captives
10.9 Legal System
10.9.1 Introduction
10.9.2 Access to court
10.9.3 Alternative dispute resolution (ADR)
11 Databook
11.1 Life Insurance
11.1.1 Policies and premium
11.1.2 Claims and expenses
11.1.3 Assets and investments
11.2 Non-Life Insurance
11.2.1 Policies and premium
11.2.2 Claims and expenses
11.2.3 Assets and investments
11.2.4 Property insurance
11.2.5 Property insurance by category
11.2.6 Motor insurance
11.2.7 Liability insurance
11.2.8 Marine, aviation and transit insurance
11.3 Personal Accident and Health Insurance
11.3.1 Policies and premium
11.3.2 Claims and expenses
11.3.3 Assets and investments
12 Definitions and Methodology
12.1 Definitions
12.2 Methodology
13 About
13.1 Contact
13.2 About
13.3 Services
13.4 Disclaimer

List of Tables
Table 1: Palestinian Insurance Industry - Key Facts, 2016
Table 2: Palestinian Insurance Industry - Top Insurers, 2016
Table 3: Palestinian Insurance Industry - Gross Written Premium by Segment (ILS Million), 2012-2016
Table 4: Palestinian Insurance Industry - Gross Written Premium by Segment (ILS Million), 2016-2021
Table 5: Palestinian Insurance Industry - Paid Claims by Segment(ILS Million), 2012-2016
Table 6: Palestinian Insurance Industry - Paid Claims by Segment(ILS Million), 2016-2021
Table 7: Palestinian Insurance Industry - Total Assets by Segment (ILS Million), 2012-2016
Table 8: Palestinian Insurance Industry - Total Assets by Segment (ILS Million), 2016-2021
Table 9: Palestinian Property Insurance - Gross Written Premium (ILS Million and US$ Million), 2012-2016
Table 10: Palestinian Property Insurance - Gross Written Premium (ILS Million and US$ Million), 2016-2021
Table 11: Palestinian Property Insurance - Paid Claims (ILS Million and US$ Million), 2012-2016
Table 12: Palestinian Property Insurance - Paid Claims (ILS Million and US$ Million), 2016-2021
Table 13: Palestinian Property Insurance - Loss Ratio (%), 2012-2016
Table 14: Palestinian Property Insurance - Loss Ratio(%), 2016-2021
Table 15: Palestinian Motor Insurance - Gross Written Premium (ILS Million and US$ Million), 2012-2016
Table 16: Palestinian Motor Insurance - Gross Written Premium (ILS Million and US$ Million), 2016-2021
Table 17: Palestinian Motor Insurance - Paid Claims (ILS Million and US$ Million), 2012-2016
Table 18: Palestinian Motor Insurance - Paid Claims (ILS Million and US$ Million), 2016-2021
Table 19: Palestinian Motor Insurance - Loss Ratio (%), 2012-2016
Table 20: Palestinian Motor Insurance - Loss Ratio(%), 2016-2021
Table 21: Palestinian Liability Insurance - Gross Written Premium (ILS Million and US$ Million), 2012-2016
Table 22: Palestinian Liability Insurance - Gross Written Premium (ILS Million and US$ Million), 2016-2021
Table 23: Palestinian Liability Insurance - Paid Claims (ILS Million and US$ Million), 2012-2016
Table 24: Palestinian Liability Insurance - Paid Claims (ILS Million and US$ Million), 2016-2021
Table 25: Palestinian Liability Insurance - Loss Ratio (%), 2012-2016
Table 26: Palestinian Liability Insurance - Loss Ratio(%), 2016-2021
Table 27: Palestinian Marine, Aviation and Transit Insurance - Gross Written Premium (ILS Million and US$ Million), 2012-2016
Table 28: Palestinian Marine, Aviation and Transit Insurance - Gross Written Premium (ILS Million and US$ Million), 2016-2021
Table 29: Palestinian Marine, Aviation and Transit Insurance - Paid Claims (ILS Million and US$ Million), 2012-2016
Table 30: Palestinian Marine, Aviation and Transit Insurance - Paid Claims (ILS Million and US$ Million), 2016-2021
Table 31: Palestinian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2012-2016
Table 32: Palestinian Marine, Aviation and Transit Insurance - Loss Ratio(%), 2016-2021
Table 33: Palestinian Health Insurance - Gross Written Premium (ILS Million and US$ Million), 2012-2016
Table 34: Palestinian Health Insurance - Gross Written Premium (ILS Million and US$ Million), 2016-2021
Table 35: Palestinian Health Insurance - Paid Claims (ILS Million and US$ Million), 2012-2016
Table 36: Palestinian Health Insurance - Paid Claims (ILS Million and US$ Million), 2016-2021
Table 37: Palestinian Health Insurance - Loss Ratio (%), 2012-2016
Table 38: Palestinian Health Insurance - Loss Ratio(%), 2016-2021
Table 39: Palestinian Reinsurance - Premium Ceded by Insurance Segment (ILS Million), 2012-2016
Table 40: Palestinian Reinsurance - Premium Ceded by Insurance Segment (ILS Million), 2016-2021
Table 41: Palestinian Insurance Industry - Agents and Producers, March 2016-2017
Table 42: Palestinian Insurance Industry - Branches, March 2016-2017
Table 43: Palestinian Non-Life Insurance - Segment Shares of the Leading Insurers (%), 2016
Table 44: Palestinian Life Insurance - Market Shares of Leading Insurers (%), 2016
Table 45: Palestinian Insurance - Market Shares of the Leading Health Insurers (%), 2016
Table 46: Trust International Insurance - Key Facts
Table 47: National Insurance Company - Key Facts
Table 48 Global United Insurance - Key Facts
Table 49: Al-Takaful Palestinian Insurance - Key Facts
Table 50: Al-Mashreq Insurance - Key Facts
Table 51: Palestine - Insurance Regulatory Framework Key Features
Table 52: Palestine - Life Insurance Regulatory Framework
Table 53: Palestine - Property Insurance Regulatory Framework
Table 54: Palestine - Motor Insurance Regulatory Framework
Table 55: Palestine - Liability Insurance Regulatory Framework
Table 56: Palestine - Minimum Tariff for Mechanical Vehicle Insurance
Table 57: Palestine - Minimum Tariff for Workmen’s Compensation Insurance
Table 58: Palestine - Deposit Requirements
Table 59: Palestine - Corporate Tax Rates for the Financial Year 2016
Table 60: Palestinian Life Insurance - Policies and Premium, 2012-2016
Table 61: Palestinian Life Insurance - Policies and Premium, 2016-2021
Table 62: Palestinian Life Insurance - Claims and Expenses, 2012-2016
Table 63: Palestinian Life Insurance - Claims and Expenses, 2016-2021
Table 64: Palestinian Life Insurance - Assets and Investments, 2012-2016
Table 65: Palestinian Life Insurance - Assets and Investments, 2016-2021
Table 66: Palestinian Non-Life Insurance - Policies and Premium, 2012-2016
Table 67: Palestinian Non-Life Insurance - Policies and Premium, 2016-2021
Table 68: Palestinian Non-Life Insurance - Claims and Expenses, 2012-2016
Table 69: Palestinian Non-Life Insurance - Claims and Expenses, 2016-2021
Table 70: Palestinian Non-Life Insurance - Assets and Investments, 2012-2016
Table 71: Palestinian Non-Life Insurance - Assets and Investments, 2016-2021
Table 72: Palestinian Non-Life Insurance - Property Insurance, 2012-2016
Table 73: Palestinian Non-Life Insurance - Property Insurance, 2016-2021
Table 74: Palestinian Non-Life Insurance - Property Insurance by Category, 2012-2016
Table 75: Palestinian Non-Life Insurance - Property Insurance by Category, 2016-2021
Table 76: Palestinian Non-Life Insurance - Motor Insurance, 2012-2016
Table 77: Palestinian Non-Life Insurance - Motor Insurance, 2016-2021
Table 78: Palestinian Non-Life Insurance - Liability Insurance, 2012-2016
Table 79: Palestinian Non-Life Insurance - Liability Insurance, 2016-2021
Table 80: Palestinian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2012-2016
Table 81: Palestinian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2016-2021
Table 82: Palestinian Health Insurance - Policies and Premium, 2012-2016
Table 83: Palestinian Health Insurance - Policies and Premium, 2016-2021
Table 84: Palestinian Health Insurance - Claims and Expenses, 2012-2016
Table 85: Palestinian Health Insurance - Claims and Expenses, 2016-2021
Table 86: Palestinian Health Insurance - Assets and Investments, 2012-2016
Table 87: Palestinian Health Insurance - Assets and Investments, 2016-2021
Table 88: Insurance Industry Definitions

List of Figures
Figure 1: Palestinian Real GDP (ILS Billion), 2012-2016
Figure 2: West Bank and Gaza Strip GDP (ILS Billion), 2012-2016
Figure 3: Palestinian Current Account Balance (% of GDP), 2012-2015
Figure 4: Palestinian Inflation Rate (%), 2012-2016
Figure 5: Palestinian Unemployment Rate, 2012-2016
Figure 6: Palestinian Insurance Industry - Gross Written Premium by Segment, 2012-2021
Figure 7: Palestinian Insurance Industry - Paid Claims by Segment(ILS Billion), 2012-2021
Figure 8: Palestinian Insurance Industry - Total Assets by Segment (ILS Million), 2012-2021
Figure 9: Palestinian Property Insurance - Gross Written Premium (ILS Million), 2012-2021
Figure 10: Palestinian Property Insurance - Paid Claims (ILS Million), 2012-2021
Figure 11: Palestinian Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (ILS Million and %), 2012-2021
Figure 12: Palestinian Motor Insurance - Gross Written Premium (ILS Million), 2012-2021
Figure 13: Palestinian Motor Insurance - Paid Claims (ILS Million), 2012-2021
Figure 14: Palestinian Motor Insurance - Earned Premium, Incurred Loss and Loss Ratio (ILS Million and %), 2012-2021
Figure 15: Palestinian Liability Insurance - Gross Written Premium (ILS Million), 2012-2021
Figure 16: Palestinian Liability Insurance - Paid Claims (ILS Million), 2012-2021
Figure 17: Palestinian Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (ILS Million and %), 2012-2021
Figure 18: Palestinian Marine, Aviation and Transit Insurance - Gross Written Premium (ILS Million), 2012-2021
Figure 19: Palestinian Marine, Aviation and Transit Insurance - Paid Claims (ILS Million), 2012-2021
Figure 20: Palestinian Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (ILS Million and %), 2012-2021
Figure 21: Palestinian Health Insurance - Gross Written Premium (ILS Million), 2012-2021
Figure 22: Palestinian Health Insurance - Paid Claims (ILS Million), 2012-2021
Figure 23: Palestinian Health Insurance - Earned Premium, Incurred Loss and Loss Ratio (ILS Million and %), 2012-2021
Figure 24: Palestinian Reinsurance - Premium Ceded by Insurance Segment (ILS Million), 2012-2021
Figure 25: Palestinian Non-Life Insurance - Segment Shares of the Leading Insurers (%), 2016
Figure 26: Palestinian Life Insurance - Market Shares of Leading Insurers (%), 2016
Figure 27: Palestinian Insurance - Market Shares of the Leading Health Insurers (%) 2016
Figure 28: Palestine - Insurance Supervision and Control at Various Levels
Figure 29: Palestine - Insurance Regulatory Frameworks for Company Registration and Operation
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  • Trust International Insurance
  • National Insurance
  • Global United Insurance
  • American Life Insurance-Alico
  • Al-Takaful Insurance
  • Palestine Insurance
  • Al-Mashreq Insurance
  • Palestine-Mortgage and Housing
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