Saudi Arabia: Regulator targets 100% localisation of personal sales jobs

Source: Middle East Insurance Review | Nov 2017

SAMA is aiming to require that insurers localise 100% of sales jobs in individual insurance after the successful Saudisation of all motor claims-handling positions in the insurance sector.

Mr Salah Al Jaber, Chairman of the Insurance Committee in the Eastern Chamber of Commerce, said that insurers are capable of implementing the Saudisation of all sales jobs within six months, according to a report by Today.

He said that the 32 insurers operating in the insurance field have been able to shift all motor claims handling jobs to Saudi staff. He added that insurers and reinsurers are able to settle many of the technical and leadership positions at all stages, in line with SAMA’s strategy and the 2030 vision to groom qualified local cadres for the Saudi insurance sector.

The total number of employees in insurance companies operating in the Kingdom rose to about 10,040 employees at the end of 2016, compared to 9,680 at the end of 2015. According to SAMA, Saudi employees accounted for 58% of the total manpower in the insurance industry in 2016. M

Comment | Print

Name*

Email*

Comment*

Code Verification*

Enter the code shown above in the box below.

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.