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Jun 2020

Saudi Arabia: Insurers issue results warning

Source: Middle East Insurance Review | May 2020

A number of insurers have lodged statements with the stock exchange saying that sales of policies might be impacted by precautionary measures imposed by the authorities, including a lockdown to curb the spread of COVID-19. This, in turn, could affect their GWP.
 
The representative of the statements by the various insurers, Al-Etihad Insurance, said it is difficult for insurers to determine the full financial impact, because it is uncertain how long a period the precautionary measures would last.
 
Al-Etihad Insurance added that it is currently monitoring developments in this regard, and any material development will be announced in due course. M 
 
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