The United Cooperative Assurance Company has announced the issuance of a Board of Directors resolution that appoints Mr Marwan bin Mohammed Al-Hazmi as Acting CEO of the company.
Enaya Cooperative Insurance Company (Enaya) has emphasised the importance of its proposed merger with Salama Cooperative Insurance Company (Salama) in an invitation to shareholders to attend an extraordinary general meeting on 4 January 2026 to vote on the merger.
Arabia Insurance Company (AIC) has a track record of profitable, albeit volatile, operating performance, with positive results reported in four of the past five years (2020-2024). However, results in 2023 and 2024 have been lacklustre, with the company reporting return-on-equity (ROE) ratios of 1.4% and 3.9%, respectively, AM Best noted.
Jeddah-headquartered multilateral financial institution, Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), has approved insurance coverage of EUR135m ($156.96m) against non-performance of sovereign financial obligations (NHSFO) in support of the Kars-Igdir-Aralik-Dilucu (KIAD) high-standard railway project in Turkiye.
Saudi Arabia's insurance companies registered double-digit in top line while profitability dropped sharply, according to the Insurance Authority's recently released report "Insurance Sector 3rd Quarter Report - 2025".
Abu Dhabi-headquartered BlueFive Capital yesterday announced the launch of BlueFive Insurance, a dedicated platform to lead the consolidation, digitisation, and specialisation of the insurance industry across the Gulf Cooperation Council (GCC) and beyond.
S&P Global Ratings has revised its outlook on Saudi Reinsurance (Saudi Re) to positive from stable. At the same time, the global credit rating agency affirmed the reinsurer's 'A-' long-term issuer credit and insurer financial strength ratings and 'gcAAA' Gulf Cooperation Council regional scale rating on the company.
A new cross border digital vehicle insurance plan has been launched for travellers between Saudi Arabia and the UAE and will be available through familiar government digital platforms, enhancing convenience and digital adoption.
The Insurance Authority has launched a proposal to amend an article in the Executive Regulations of the Cooperative Insurance Companies Control System.
The combined net profit of 75 listed GCC insurers remained steady at $1.7bn in the first nine months of this year (9M2025), with mirroring trends from the first half of the year, according to a report by research and consulting firm Insurance Monitor and Lux Actuaries and Consultants.