Arab Reinsurance Company: a new dimension
Home   |   Sitemap   |   Contact us
Follow us on
Is Climate Litigation Covered by Insurance? - Social Inflation or Science: What Is Fueling Climate Litigation? - Fortegra Europe Opens Branch in Czech Republic - Vantage launches Construction and Political risk business - UK Insurers Cautiously Willing to Underwrite Fire Safety Risks - Insurtech Foxquilt Raises $8M to Expand Small Business Offering in U.S. and Canada - Speciality Re/Insurer Convex Launches European Subsidiary With A- Rating From S&P - Debt surge in emerging markets may hurt insurance outlook: Swiss Re - Zurich Insurance Weighs Selling Some Australian Non-Core Assets - Reinsurers Face Major Claims Uncertainties, but Reap Benefits of Pricing Tailwinds - Corvus, SiriusPoint announce investment & underwriting capacity partnership - Munich Re backs energy storage systems provider ESS - Climate Change Could Force 200 Million People to Leave Their Homes by 2050 - Work of the scientific community and re/insurers needed to assess climate change: Lloyd’s - Gallagher Re Touts Advanced Integrated Reinsurance Analytics Platform - London Financial Employees Return to Offices Despite Rising Virus Cases - P/C Reinsurers Maintain Underwriting Discipline, Despite Rising Capacity: Guy Carpenter - Britain Looks to Revisit Data Privacy Regulations - WTW, Applied Systems target real-time pricing enhancements - Reinsurance environment “most attractive in a decade”: SCOR’s Launay - Willis Towers Watson’s New CEO Says It Has $5 Billion for Possible Acquisitions - Lloyd’s Reports H1 2021 Profit of £1.4B ($1.9B), with 92.2% Combined Ratio - Global Reinsurers Shoulder ‘Considerable Burden’ of COVID-19 Claims - “Inflation is the enemy of the re/insurance industry,” says Swiss Re CFO Léger - Global Reinsurance Rates, Demand to Continue Rising in 2022: Moody’s - Prudential’s Michael Koller joins MS Amlin as Chief Risk Officer - Rates need to and will harden further: Swiss Re CEO Mumenthaler - Russia’s Renaissance Insurance Plans $1 Billion IPO in Moscow: Reuters
Search Search
World News & Events
Enlarge Font Minimize Font

Saudi ins. sector net income surges 434% in Q2

Saturday, 10 03 2020, Category: Insurance and Reinsurance, Country: Saudi Arabia
Saudi Arabia’s insurance sector posted a surge in net income for the second quarter compared to the same period last year.

Net income increased by 434% to 940 million riyals ($250.7 million) compared to 176 million riyals in Q2 2019, according to a report from the central bank released on Wednesday (September 30).

The Saudi Arabian Monetary Authority (SAMA) said this is due to the significant increase in operating income from 99 million riyals to 709 million riyals, which was partially offset by a decrease in investment income of 16.2%.

Gross written premiums nudged up by 5.1% to 8.7 billion riyals but net earned premiums were flat at 7.722 billion riyals.

Corporates still make up the lion’s share of clients, at 63.5%, followed by retail (15.6%), medium enterprises (12.3%), small businesses (5.8%), and micro enterprises (2.9%).

The biggest line of business growth was protection and savings insurance, at 32.9%, followed by a 25.4% uptick for other general insurance, and 6% rise in motor premiums.

Health insurance decreased by 2.1%.

All copyrights reserved, Arab Reinsurance 2016 ©