Magazine

Read the latest edition of AIR and MEIR as an Interactive e-book

Apr 2014

Country Profile


At a critical juncture

Last year was an exceptional one for Saudi Arabia's insurance market, which recorded unprecedented losses of SAR1.3 billion (US$347 million). Underlying the figures, however, are major market developments which are testing the survival of and strengthening various operators.


Battle for share as construction booms

Construction projects are on the rise in Saudi Arabia, but soft market conditions caused by absence of major NAT CATs and plentiful capacity are putting pressure on underwriters, says Mr Sanjeev Badyal of Allianz Global Corporate & Specialty.

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Financial lines - The next growth area

Evolving regulations, growing awareness and increasing corporate governance are boosting the demand for financial lines insurance in Saudi Arabia, says Mr Osama Abu Ghazaleh of ACE Insurance & Reinsurance Brokers.

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