Research and Markets: Insurance Industry in Syria, Key Trends and Opportunities to 2018

DUBLIN--()--Research and Markets (http://www.researchandmarkets.com/research/trt9ld/the_insurance) has announced the addition of the "The Insurance Industry in Syria, Key Trends and Opportunities to 2018" report to their offering.

The ongoing Syrian civil war, which started in 2011, has had a drastic impact on both the country's economy and its citizens' livelihoods. The Syrian economy is undergoing a declining phase, with the impact of the crisis being very severe. Even after years, the economy struggles to provide the population with basic necessities, such as food, clothing and shelter. The war has all but destroyed the country's economic infrastructure, hampered sources of income, led to a decrease in production, devalued the Syrian Pound, impacted the budget, and led to further inflation and unemployment. A recent report by the United Nations called it an 'economic catastrophe.'

The Syrian Insurance industry was nationalized in 1961, although signs of change were visible only at the end of 1990s as the government began to realign its economic stance. With the opening of other sectors to private enterprises, there has been an increased need for commercial insurance.

Key Highlights

  • In terms of gross written premium value, the Syrian insurance industry declined at a review-period compound annual growth rate of -0.8%.
  • The Muslim population accounts for 87% of the total population in Syria, with takaful insurance expected to account for a significant industry share over the forecast period.
  • Syria's healthcare system suffered greatly due to the civil war and the subsequent ongoing political turmoil. Individuals have been deprived of any kind of medical assistance due to the destruction of hospitals and attacks on senior doctors, nurses and other medical staff.
  • A key challenge for the Syrian insurance industry is the country's rising level of unemployment, which lowers consumer buying power and discourages people from investing in insurance.
  • The Syrian insurance industry is struggling with inadequate supervision, due to a weak regulatory framework.

Key Topics Covered:

1 Executive Summary

2 Introduction

3 Syrian Insurance Industry Overview

4 Industry Segmentation

5 Governance, Risk and Compliance

6 Competitive Landscape

7 Economic Indicators

8 Appendix

Companies Mentioned

  • United Insurance Company
  • Syrian Kuwaiti Insurance
  • Trust Insurance Syria Company
  • Arope Syria

For more information visit http://www.researchandmarkets.com/research/trt9ld/the_insurance

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector: Insurance

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector: Insurance