Saudi Arabia – Expected increase in insurance prices next year
Tuesday, 08 09 2016, Category: Insurance and Reinsurance, Country: Saudi Arabia
Insurance companies expect a slight increase in the prices of insurance policies with the start of the next year i.e. 2017 but it will be limited. This is due to the continuous losses incurred by insurance companies in both health and motor insurance.
The media spokesperson of insurance companies Mr. Adel Issa confirmed that the reason for such an increase is the continuous losses of 35 insurance companies operating in the health and motor insurance markets.
Mr. Issa added that companies will submit their feedback after the release of the results of the second half of the year, which will then help fix the increase, which will be very low according to the statement.
Source: Al Yaum