The motor insurance branch in Saudi Arabia fell short of breaking even in the first quarter of 2026, despite the significant increase in policy prices in recent months.
The Insurance Authority confirmed that it is reviewing the vehicle insurance pricing mechanism to ensure that insurance companies comply with regulatory standards, and to ensure fair and reasonable prices, according to a statement on its website.
The Saudi Insurance Authority has said that the scope of insurance coverage for drivers varies according to the motor insurance policy, according to a statement it published yesterday.
The Insurance Authority has signed a cooperation agreement with HUMAIN, which specialises in delivering integrated artificial intelligence capabilities globally.
Saudi Arabia's listed insurance sector reported a significant improvement in profitability in the first half of 2026 compared following an exceptionally weak 1H2025, Moody's Ratings said in a report released earlier this week.
The underwriting performance of Al Sagr Cooperative Insurance Company improved in 1H2026, with a combined ratio of 100.9%, after a sharp deterioration in 2025 (combined ratio: 111.1%), Fitch Ratings said. This compares with strong underwriting performance in 2023 (96%) and 2024 (94%).
The 1H2026 performance of Saudi Arabia's listed insurance sector confirms that the market is steadily working its way out of the difficult conditions that defined 2025, said BADRI Management Consulting, an international actuarial and risk consulting company.
Saudi Arabia is exploring establishing a state-backed war risk insurance programme to reduce insurance costs for ships and cargo as risks escalate in the region.
The Insurance Authority has directed health insurance providers in the Kingdom to offer a health insurance product without pre-medical approval requests for out-patient services, as part of its efforts to address a key challenge faced by health insurance beneficiaries in recent years.
Najm, the national platform powering motor accident management across Saudi Arabia, has entered into a strategic partnership with Solera, the global leader in vehicle lifecycle management and claims solutions, marking a significant milestone in the company's expansion across the Middle East.