The Saudi Arabian insurance industry has emerged as one of the fastest growing insurance industries across the world. While the global economic crisis has severely hit other industrial sectors, the insurance industry posts 25-30 percent annual growth rate on the back of compulsory insurance lines. According to our new research report “Saudi Arabia Insurance Market to 2012”, protection & savings and health insurance are the fastest growing insurance lines in the Kingdom, with health insurance accounting for around 44 percent of the overall insurance market as of the end of 2008. Besides, long-term growth of the insurance industry primarily depends on the performance of protection and savings insurance, owing to low penetration of life insurance in the country. The protection and savings insurance premium is expected to grow at a CAGR of around 55 percent over the forecast period (2009-2013). The health insurance sector is also expected to expand vigorously as the increasing involvement of private companies develops the scope for insurance cover, and as foreign nationals and foreign pilgrims are obliged to take out insurance. In addition to this, the most recent introduction of compulsory health insurance for private employees, irrespective of the size of the company they are working with, will further boost the health insurance market in the country. Moreover, general insurance category, which accounts for majority of insurance premium in the Kingdom, is showing substantial growth despite being heavily hit by the financial crisis. It is expected to grow at about 13 percent during 2009-2013, owing to rising motor and property insurance. Energy and liability insurance are expected to emerge as the fastest growing general insurance segments over the forecast period. The Saudi Arabian insurance sector continues to be dominated by the three biggest players - Tawuniya, Medgulf and Bupa Arabia. Tawuniya grew massively in 2009, nearly doubling in size in terms of premiums, while the other two lost some premium income during the year. The Saudi Arabian market is dominated by health products, which is double the value of the next most popular insurance, motor. They account for around 40 percent and 20 percent of the insurance products marketplace, respectively. Another study by companiesandmarkets.com on Saudi insurance industry forecast that total premiums for 2014 would reach SR42,968 million, with non-life premiums registering SR41,645 million and life premiums at SR1,323 million. In terms of the key drivers that underpin the forecast, the study forecast that non-life penetration will rise from 1.07 percent in 2009 to 1.71 percent in 2014, and life density from $7.61 to $12.97. The report's Insurance Business Environment Rating for Saudi Arabia is 53.2 out of 100. In spite of global financial crisis, the non-life insurance sector in Saudi Arabia has managed to emerge well. The gross non-life insurance premium is expected to grow at a CAGR of around 13 percent during 2009-2013. Motor and property insurance account for the bulk of non-life insurance business in the country and are expected to continue playing a dominant role in the future growth also. Another report said though motor and property insurance dominate the market, some of the emerging insurance lines like engineering and aviation insurance are the fastest growing general insurance businesses and their contribution to the insurance industry is expected to significantly rise in the coming years on flourishing real estate and increasing number of fleets in the aviation sector.