The General Committee for Insurance Companies has launched its "Stay Aware" campaign to raise public awareness about purchasing motor insurance policies from unlicensed parties.
Saudi Arabia's Council of Ministers has approved the application of health insurance rules for domestic workers.
The Saudi insurance sector recorded an overall net Income of SAR689m ($183.7m) in 2022, compared to a net loss of SAR47m 2021 according to the Saudi Central Bank (SAMA).
The authorities in the UAE and Saudi Arabia have given listed insurers more time to publish their 1Q2023 financial statements that are to be based on the new international financial reporting standard IFRS 17.
The Saudi Central Bank (SAMA) says that it has been drafting a set of regulations, called "Marine Insurance Coverage Instructions".
Mandatory insurance against medical errors has been implemented for health practitioners in 18 disciplines.
GlobeMed Saudi, a leading healthcare benefits management company in Saudi Arabia, has formed a cooperation pact with Allianz Saudi Fransi Cooperative Insurance.
Chedid Re Europe, a member of Chedid Capital Holding, has announced that it has chosen the Kingdom of Saudi Arabia as the headquarters of its regional operations, through establishing Chedid Europe Regional Limited, in line with its strategy to expand its business and operations in the Middle Eastern reinsurance market.
The Saudi Central Bank (SAMA) has said that it is mandatory for all insurance companies to upload vehicle insurance policies of all types (Corporate/individuals), to their computer system, so that the uploading process is synchronised with the completion of the policyholder's purchase of the policy.
Saudi Reinsurance Company (Saudi Re) has posted net profits before zakat of SAR56.74m ($15.10m) in 2022, an annual increase of 6.43% compared to 2021.