Saudi Arabia – Possibility of mergers between small insurers
Saturday, 01 30 2016, Category: Insurance and Reinsurance, Country: Saudi Arabia
The “Asharq Al-Awsat” newspaper quoted sources as saying that the Saudi Arabian Monetary Agency “SAMA” is studying the possibility of pushing small insurance companies, which are incapable of competing into mergers in order to become strong economic entities.
The sources said that “SAMA” is seeking to support local insurance companies by organizing the sector and activating their roles in order to create a fair competitive environment.
According to the data available at “Argaam”, the number of companies listed in the Saud market within the insurance sector is 35, of which 14 posted losses by year-end 2015.