Saudi Arabia – SAR 159 billion premiums in 5 years
Tuesday, 10 10 2017, Category: Insurance and Reinsurance, Country: Saudi Arabia
The total insurance premiums written by insurance companies during the past five years reached SAR 159 billion (USD 42 billion). The contribution of the health insurance sector represented 52%, which is equivalent to SAR 82 billion. It is followed by general insurance, which represented 46% of total premiums written i.e. SAR 72 billion whereas protection & savings insurance represented 2.5% of total premiums written i.e. SAR 4 billion.
According to the Saudi Arabian Monetary Authority (SAMA), the health insurance sector was the most important sector with a 53% share in 2012. In year 2013 health insurance premiums reached SAR 13 billion, which represented 51% of total insurance premiums. Finally, health premiums reached SAR 16 billion representing 52% of total premiums in year 2014.
Source: Al Hayat