The Saudi insurance industry has reported growth in total premium income for the first quarter of the year, while the net income saw a notable setback, according to the Insurance Authority's latest quarterly report.
Marsh has appointed Mr Bassel Gazzaz as CEO of Marsh Arabia Insurance Brokers. In his new role, Mr Gazzaz will lead the strategic direction and operations of Marsh in Saudi Arabia, driving growth and enhancing client service.
Saudi Reinsurance Company (Saudi Re) has signed a contract with The Company for Cooperative Insurance (Tawuniya), to reinsure the compulsory Inherent Defects Insurance (IDI) pool.
The board of directors of Gulf General Cooperative Insurance Company (GGI) has recommended a reduction of the company's capital, as decided during their meeting held on 29 June 2025, according to a bourse filing on the Saudi Exchange (Tadawul) yesterday.
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.