Saudi Arabia – USD 3.3 billion investments in insurance
Tuesday, 05 31 2016, Category: Insurance and Reinsurance, Country: Saudi Arabia
The Saudi Arabian Monetary Agency issued the 2015 report about the insurance market in KSA. It sheds light on the continued strong growth of the insurance market in the past year and its positive impact generally on the sector due to the corrective measures taken including the ongoing strengthening of the required reserves in order to comply with regulations and supervisory instructions and control underwriting measures.
The report noted that these steps contributed positively to underwriting results (operating results) which reached SAR 963 million (USD 265.8 million) in year 2015 compared to SAR 651 million (USD 173.6 million) during year 2014.
Source: Asharq Al Awsat