The Middle East and African market is growing and changing rapidly. Although in comparison to other parts of the world the market is relatively small, the scope for further expansion is huge. The insurance market in the region is expected to grow at a CAGR (Compound Annual Growth Rate) of around 25% during the period 2010-2013 mainly due to the highly untapped market, rising awareness level, health conditions and initiatives taken by the governments of various countries in the region (“Middle East Insurance Forecast to 2012”).