Abstract
The Saudi Arabian insurance industry has been on steady growth in the past few years. This work hopes to appraise the effect of corporate finance law in Saudi Arabian insurance institutions through effective machinery to enhance development in the sector. The presence of agencies like the Business-Monitor-International (BMI) as a self-regulating body that monitors the sector is valuable for a forecast of the insurance industry up to the year 2015. This study will stand on available research to examine the fundamental growth drivers and estimate the prospects that Insurance institutions in Saudi Arabia have under the corporate finance law in terms of the situation of macro-economy, growth-potentials, developmental rate poised by the insurance industry.
Introduction
There is very rapid growth in the Saudi Arabian insurance sector. However, to ensure better productivity in the sector, the need for corporate finance law is necessary. Corporate-financial-law monitors marketing as involving a shareholder, business –Director, an employee, or a creditor with another stakeholder such as a consumer, or a community and takes into account the environment where a transaction is conducted in terms of adhering to stipulated rules under which the transaction was conducted. This entails the need for the application of the insurance sector.
A number of institutions have presently been on the ground to ensure the effectiveness of the application of corporate finance law to the Saudi Arabian insurance institution. This includes the BMI which has articulated a report on Saudi Arabian insurance institutions including excellent information on the sectors’ competitive intelligence, regulations, professionalism, as well as consultancy.
The paper will appraise commercial incentives instituted by major field players with the inclusion of governmental policies, as well as regulatory agencies, And how the corporate finance laws have been helpful to the realization of better insurance industry in Saudi Arabia through a thorough assessment of Saudi Arabian insurance institutions’ premiums, competitive-positioning, ownership-structure, as well as basic products/services.
Aims and objectives
The aim of the paper is to present an outline for a dissertation that would provide an overview of Corporate Finance Law in Saudi Arabian Insurance Institutions under the following objectives:
- To extrapolate from the findings regarding the development of the current system of financial law the suggestion for financial legal reforms necessary to grow Saudi Arabian Insurance Institutions
- To analyze the influence of various macroeconomic factors influencing Corporate Finance Law in Saudi Arabian Insurance Institutions.
Outline of Proposed Contents
Declaration
The declaration for the dissertation would be as follows:
I certify to the originality of this PhD dissertation that it is solely my work which is presented for the award of a degree in law at the university and that where the works of other persons have been used, there is appropriate credit given to the original author(s) of the works very clearly. There is equal credit to joint studies conducted by other persons and myself for the course of this work. I warrant the use of this work on the condition that it would be used solely for the purpose of furthering knowledge and that it would be properly acknowledged. The work should not be copied or reproduced through any medium without a forehand request for permission from the author.
I am confident that the authorization would by no means infringe third-party’s rights.
Discussion
The Saudi Arabian insurance industry has been on a steady growth on the few past years. This work hopes to appraise the effect of corporate finance law in Saudi Arabian insurance institutions. The studies will consider previous studies on the subject such as assessments conducted by Business-Monitor-International (BMI)’s self-regulating assessment which five-year forecast of the insurance industry up to the year 2015. The study will examine the fundamental growth drivers and estimate the prospects which Insurance institutions in Saudi Arabia has under the corporate finance law in terms of the situation of macro-economy, growth-potentials, developmental rate poised by the insurance industry. The paper will equally appraise commercial incentives instituted by major field-players with the inclusion of governmental policies, as well as regulatory agencies. This will be assessed through a thorough assessment of Saudi Arabian insurance institutions’ premiums, competitive-positioning, ownership-structure, as well as basic products/services.
Analyses by the BMI are considered very fundamental for this work based on the fact that the agency has articulated report on Saudi Arabian insurance institutions including excellent information on the sectors’ competitive intelligence, regulations, professionalism, as well as consultancy. Therefore the benefits of considered studies under the BMI include:
- Benchmark BMI’s independent 5-year insurance industry forecasts for Saudi Arabia to test other views provides a key input for successful budgeting and strategic business planning in Saudi Arabia’s insurance market;
- Target business opportunities and risks in Saudi Arabia through reviews of latest industry trends, regulatory changes, and major deals, investments and macro-economic developments.
Conclusion
This paper presents a proposal for a doctorate degree dissertation entitled: corporate finance law in Saudi Arabian insurance institutions. The proposal topic supposes the necessity to apply corporate finance law in Saudi Arabian Insurance Institutions for stability and faster development of the sector.
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