Magazine

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

Jul 2021

Saudi: Insurance market grows by 2.3% in 2020

Source: Middle East Insurance Review | Jun 2021

Gross written premiums for the Saudi insurance market reached SAR38.78bn ($10.3bn) in 2020, a 2.3% increase over the preceding year, according to the annual report issued by the Saudi Central Bank (SAMA).
 
The overall loss ratio decreased from 81.9% in 2019 to 77.5% in 2020 due to the improvements in the loss ratio of health and motor insurance classes.
 
Net profit (after zakat and tax) for the sector increased by 61.6% over the last year reaching SAR1.38bn in 2020. The penetration ratio of the sector increased from 1.28% in 2019 to 1.48% in 2020.
 
The report noted that online aggregator business increased to SAR2.3bn from SAR1.3bn in 2019. M 
 
| Print | Share

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.

 

Recent Comments

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.