The GCC reinsurance barometer : an annual market survey

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      <subfield code="a">The GCC reinsurance barometer</subfield>
      <subfield code="b">: an annual market survey</subfield>
      <subfield code="c">prepared by Dr. Schanz</subfield>
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      <subfield code="a">Doha, Qatar</subfield>
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      <subfield code="a">In 2011, the six Gulf Cooperation Council (GCC) countries generated a combined estimated Gross Domestic Product (GDP) of US$ 845 billion (at constant 2005 prices). This level of output ranks the GCC amongst the 20 largest economies in the world. At an inflation-adjusted  4% per annum, the regions economies grew twice as fast as the rest of the world between 2007 and 2011. Insurance markets in the GCC mirror the macroeconomic dynamics of the region. For 2011, total non-life and life premium volume in the GCC is estimated at US$ 14.9 billion and projected to reach US$ 18 billion by 2013. Life business is growing faster than the non-life segment but continues to be of marginal importance with a share of less than 15% </subfield>
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