Saudi Arabia – Motor insurance rates increase by 31% in 2016
Tuesday, 01 03 2017, Category: Insurance and Reinsurance, Country: Saudi Arabia
The average price of motor insurance in Saudi Arabia reached SAR 3561 in the third quarter of year 2016 noting that motor insurance premiums reached SAR 2.3 billion.
The total number of motor insurance contracts reached approximately 648.1 thousand contracts that include Third Party and comprehensive insurance according to “Al Riyadh” newspaper.
The average price of motor insurance increased by 31.7% during the first three quarters of year 2016 compared to the same period last year.