This quarter, we have revised down our forecasts for the non-life segment. This is because the data published by the regulator in relation to ---- indicates that we had been overly optimistic in relation to the health insurance sub-sector. ...This is because the data published by the regulator in relation to ---- indicates that we had been overly optimistic in relation to the health insurance sub-sector. Previously, we had anticipated that health insurance premiums would rise from SAR--.-bn in ---- to SAR--.-bn in ---- to SAR--.-bn in ----, the last year of the forecast period. Now the corresponding figures are SAR--.-bn, SAR--.-bn and SAR--.-bn. ...We note that if a major consolidation were to occur, it would provide an additional boost to the growth prospects of the sector. This is because the largest players would almost certainly have greater access to capital.
...Following a rapid -- growth spurt from a low base in ----, Saudi Arabia s life segment will grow at rather low rates during ---- and beyond. They will be exclusively driven by expatriate demand. ...One is where the government mandates compulsory purchase (eg, as a means of reducing the pressure on the budget of generous social security benefits). The other is where the life insurers themselves develop and distribute savings/investment products that are particularly attractive - with the result that they are purchased by Saudi nationals in preference to other forms of savings (such as cash/bank deposits and real estate). The other is where the life insurers themselves develop and distribute savings/investment products that are particularly attractive - with the result that they are purchased by Saudi nationals in preference to other forms of savings (such as cash/bank deposits and real estate). ...The other is where the life insurers themselves develop and distribute savings/investment products that are particularly attractive - with the result that they are purchased by Saudi nationals in preference to other forms of savings (such as cash/bank deposits and real estate).
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