Saudi Arabia – Insurers move toward mergers
Thursday, 02 09 2017, Category: Insurance and Reinsurance, Country: Saudi Arabia
The chairman of the insurance committee in Asharqia Chamber Mr. Salah Al Jaber told the “Okaz” newspaper that companies operating in the insurance market are moving toward mergers but he avoided giving more details saying “it is still premature”.
And he said: “insurance is saturated by companies and cannot absorb a new company”.
The indicators of the first half of year 2017 indicate that the results are positive for insurance companies noting that many insurers were able to achieve profits during year 2016.