Aljazira Takaful Taawuni Company (Aljazira Takaful) has announced that its Board of Directors has approved the resignation of Dr Sager bin Abdullatif Nader Shah from his position as Managing Director and Board Member, as well as from the membership of the Board's subcommittees.
Gulf General Cooperative Insurance Company announced that Mr Anuj Agarwal, CEO, has submitted his resignation with his last working day set for 15 April 2026.
The exposure of Jeddah-headquartered Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) to regions affected by the ongoing war in the Middle East remains limited and is also mitigated through reinsurance, according to S&P Global Ratings (S&P).
Only licensed and duly registered insurance companies may offer extended warranty in Saudi Arabia, the Insurance Authority has said in a statement.
The Insurance Authority has announced the transition to the mandatory implementation of the Risk-Based Capital (RBC) framework, effective 1 January 2027.
The Saudi insurance industry's profits (after zakat & tax) declined significantly by 36% year-on-year to SAR2.0bn ($533m) in 2025 from SAR3.2bn in 2024, according to BADRI Management Consultancy, an international actuarial and risk management consulting firm.
Mediterranean and Gulf Cooperative Insurance and Reinsurance Company (Medgulf) has reported net income after zakat amount of SAR41.06m in 2025, compared to SAR101.99m for 2024, plummeting by 59.7%, according to financial results released by the company on the Saudi Exchange (Tadawul).
Al Etihad Cooperative Insurance has announced the Board of Directors' decision to accept the resignation of the company's CEO, Mr Hussam AbdulAziz Al-Kannas. The resignation was attributed to personal reasons.
The Insurance Authority (IA) has approved a regulation setting out licensing requirements for underwriting activities by insurance companies and Managing General Agents (MGAs), as part of its efforts to develop the regulatory framework of the insurance sector and enhance professional standards. The IA stated that the move also aims to support market stability, strengthen governance and promote growth and transparency.
Howden has announced leadership appointments and regional structure changes to better serve clients and insurer partners. According to a statement from the firm, these changes will more closely align expertise and shape the business to bring all of its growing capabilities and talent to clients across regional borders.