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.
The Insurance Authority, in cooperation with the General Directorate of Civil Defence, has announced the launch of the Third-Party Cooperative Insurance Policy for Crowded Places and High-Risk Activities. The insurance will be mandatory pursuant to a Council of Ministers resolution.
The Insurance Authority has launched the first phase of the Innovation Lab, one of the initiatives under the National Insurance Sector Strategy.
The 2026 profitability outlook of the insurance industry is subject to greater uncertainty than the 2025 results alone suggest, says the Insurance Authority in its "Saudi Insurance Market Report 2025" report.