By the Numbers: growth forecast in Middle East, North Africa.

Middle Eastern insurance markets will experience a significant increase in premiums in personal lines, especially motor, in the coming three to five years, according to the A.M. Best Special Report, "Middle East and North African Insurance Markets." Obstacles to expansion in the Middle Eastern insurance market will remain as the concept of insurance is still not well ingrained in the mindset of the local population.

In Saudi Arabia, comprehensive motor insurance accounts for 90% of all motor policies.

Egypt's local insurance sector is dominated by three large public companies that control 74% of total premiums.

Insurance Penetration, Middle East and North African Markets-2003

                                         Insurance
                       Gross Premiums   Penetration
                          Written       (GPW as a       No of
                       (US$ Millions)    % of GDP)    Companies

Algeria                    $403.2          0.6%          13
Egypt                       564.4          0.7           20
Jordan                      222.0          2.2           26
Kuwait                      322.0          0.9           17
Lebanon                     523.8          2.9           62
Morocco                   1,282.5          2.9           18
Oman                        260.4          1.2           16
Saudi Arabia *              935.3          0.5           75
Tunisia                     455.0          1.8           22
United Arab Emirates        963.2          1.1           47
Total/Average              $3,002          1.1           n.a.

* In 2003, NCCI (National Company for Co-operative Insurance) was
the only insurance provider officially licensed in Saudi Arabia and
74 other companies operated as agencies to foreign companies.

Sources: Swiss Re, Sigma No. 3/2004 (2003 figures) and A.M. Best Co.