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 insurance sector to see more mergers in 2021

Tuesday, 12 08 2020, Category: Insurance and Reinsurance, Country: Saudi Arabia
Saudi Arabia’s insurance sector is expected to witness more mergers in 2021, Al-Arabiya TV reported, citing Abdullah Al Towaijri, Head of Insurance Companies Control Department at Saudi Central Bank (SAMA).

Al Towaijri noted that the insurance sector has reached a stage of maturity to recognize the need for consolidation of capital.

Merger is a feasible option for small-cap insurers to raise their capital, he said, adding that it is also an excellent option to form stronger financial entities amid the large number of players in the market.

The insurance sector is relatively new in the Kingdom and lacks adequate competency, and given the large number of players the available competencies are distributed, Al Towaijri said.

Mergers help concentrate the competencies and create more financially solvent entities that offer better and innovative services and products, he added.

SAMA provides support and advice for companies that seek to merge, said the official, adding that foreign insurance companies are part of the market and are free to assess available options for expansion.

All copyrights reserved, Arab Reinsurance 2016 ©