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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Syrian non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Syria's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Syria non-life (P&C) market as well as trends by line of business. Axco analysts also report on Syria's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Syria's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Syria, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Syria, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Syria with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
According to statistics produced by the supervisory authority, the Syrian non-life insurance market (including non-life personal accident and healthcare business) in 2019 increased by 13.16% compared to the previous year, which had witnessed a 22.39% drop. In six of the eight years leading up to and including 2018 there were reductions in premiums in original currency.
In the ninth year of a civil war which has devastated large parts of Syria's economy ....
This is a brief extract of information; more updated information may be available in the latest published report.