Saudi Reinsurance Company's (Saudi Re) reinsurance revenues surged by 45.27% year-on-year (YoY) to SAR1.19bn ($317.3m) in the first nine months of this year (9M2025) from SAR824.15m in 3Q2024.
Al Sagr Cooperative Insurance has announced the Board of Directors' resolution issued on 24 September 2025, approving the appointment of Mrs Dalal Abdullah Ibrahim Burhan as CEO, according to news platform, Saudi Exchange.
The Saudi Stock Exchange (Tadawul) has announced the suspension of trading in Buruj Insurance Company (Buruj) shares, pending the commencement of procedures to delist the stock permanently, following the merger of Buruj with the Mediterranean and Gulf Insurance and Reinsurance Cooperative Company (MedGulf).
The Ministry of Commerce has warned retailers, car dealerships, and all entities against offering "extended warranty" products without obtaining a licence from the Insurance Authority.
Saudi Reinsurance Company (Saudi Re) has announced that its shareholders have approved an increase in the company's capital to SAR1.698bn ($452.8m) from SAR1.158bn, the reinsurer said in a statement.
The insurance sector in Saudi Arabia continues to expand rapidly, with consolidation among smaller players potentially enhancing the sector's resilience, according to a new report by S&P Global Ratings (S&P).
The Saudi Authority for Accredited Valuers (Taqeem) has announced the launch of the "Marjea" Vehicle Price Reference Platform -- a unified national digital platform that provides individuals, insurance companies, government entities and financing institutions, with indicative vehicle prices that reflect changes in the market.
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-compliant multilateral insurer and member of the Islamic Development Bank (IsDB) Group, has signed a facultative reinsurance agreement with Takaful Libya.
The Capital Market Authority has approved the proposed capital increase of Mediterranean and Gulf Cooperative Insurance and Reinsurance Company (MedGulf) by 31.58% to SAR1.38bn ($368m) from SAR1.05bn, the insurers disclosed in separate statements lodged with the Saudi Exchange.
Health insurance premiums in Saudi Arabia rose sharply by more than 300% between 2009 and 2024. The average annual premium per person tripled to SAR4,511 ($1,203) by the end of 2024 from SAR1,491 in 2009, with expectations that it would reach SAR9,500 by 2030, according to a study by the Argaam news platform.