The Company for Cooperative Insurance (Tawuniya) has been designated to lead the pool for Inherent Defects Insurance (IDI) from 24 June 2025 for a three-year term, the Insurance Authority (IA) has announced.
Howden, a global insurance intermediary group, yesterday announced that it had received regulatory approval to launch a reinsurance operation in the Kingdom of Saudi Arabia (KSA)
Gulf General Cooperative Insurance Company has announced the appointment of Mr Mazen Hani Altamimi as its chairman and Mr Taher Mohammed Omar Agueel as vice chairman, according to a statement lodged by the insurer with the Saudi Exchange.
Arabia Insurance Cooperative Company (AIC) and United Cooperative Assurance Company (UCA) have announced that they are considering a potential merger.
Oliver Wyman, a global leader in management consulting and a business of Marsh McLennan, has appointed Mr Abdulelah AlBarrak as the new office leader for Riyadh.
The Saudi Arabian insurance industry's profits (after-zakat & tax) dropped by 28% in the first three months of 2025 to SAR0.6bn ($160m) in 1Q2025 from SAR0.9bn in 1Q2024, Badri Management Consultancy, an international actuarial consulting company, has said.
The United Cooperative Assurance Company has announced the upcoming retirement of its CEO, Mr Mohammed bin Mohammed Saeed Basrawi, effective 30 June 2025.
There is growing recognition of the importance of financial security in the workplace in the GCC, with the average age of those with income protection falling to 41 from 51 over the last three years, according to Zurich International Life Insurance Middle East, a subsidiary of Zurich Insurance Group.
Saudi Enaya Cooperative Insurance Company (Enaya) and Salama Cooperative Insurance Company (Salama) announced yesterday that the General Authority for Competition has issued a no-objection to a proposed merger between the two insurance companies.
GlobeMed Saudi, a healthcare benefits management company has announced a collaboration with Orient Insurance - Saudi Branch, part of Orient Group, a top-tier insurance provider in the UAE with strong regional expertise.