Saudi Arabia – Large mergers among 34 insurers
Tuesday, 05 02 2017, Category: Insurance and Reinsurance, Country: Saudi Arabia
Insurance sector experts expect the insurance sector in the kingdom to witness large mergers among 34 companies operating in the market; this could decrease the number of insurers to 17 companies and could also allow the entry of new international companies to the market.
The mergers according to sources quoted by “Al Hayat” newspaper could be triggered by the willingness to find a solution to losses, tackling the weak capitals of insurers, compensating the absence of technical skills, and the vision of creating large companies during a short period.
Source: Akhbaar 24