Profits of Saudi insurers will improve this year
Thursday, 10 01 2015, Category: Insurance and Reinsurance, Country: Saudi Arabia
The Standard & Poor’s rating agency expected total insurance premiums of insurance companies operating in the Saudi market to increase by 25% exceeding SAR 35 billion compared to last year.
The agency clarified in its report that this premium increase is related to an increase in the demand for insurance along with the population growth and the increase in motor and health insurance prices.
It also expected that the third and fourth quarters of the current year will post an improving profit trend in general in the past 18 months.
It also said that insurance companies will follow this path and will thus remain unaffected by the oil price decreases which impacted companies in other sectors in the Kingdom.