Monitoring Saudi insurers removed the challenges and raised performance
Monday, 08 31 2015, Category: Insurance and Reinsurance, Country: Saudi Arabia
A report issued by the Saudi Arabian Monetary Agency stated that the control procedures imposed on the insurance market contributed to address many of the challenges and difficulties facing the market and contributed to the better performance of the sector in parallel with better demand for insurance services in the country.
Dr. Ali AlJahli, an economist, commented for «Middle East» that the Saudi economy is passing through a period affecting all sectors as a result of its relation with oil prices and what happens oil prices fall. And a lot of activities and sectors are linked to the recovery in prices, and expected to expose the effects of the oil price in the activities of different sectors in the coming months in light of the continued decline in Prices.
AlJahli said that the Saudi economy has the ability to overcome the effects of the drop in oil prices as it has the reserves, procedures and liquidity in the banking sector that could continue to be well balanced especially that this was not the time that the Saudi economy is going through a decline in oil prices.