The Saudi insurance sector continued to expand in 2025, with gross written premiums increasing by 11% to SAR84.3bn ($22.5bn) compared to 2024, according to the Insurance Authority in its latest flagship yearly report, "Saudi Insurance Market Report 2025".
The Insurance Authority has adopted beneficial ownership guidelines and granted insurance companies a grace period to comply with the new requirements.
The preliminary results of the Saudi insurance market for the first half of this year suggest that the sector is gradually moving beyond the difficult conditions experienced throughout 2025, according to BADRI Management Consultancy, an international actuarial and risk management firm.
Walaa Cooperative Insurance Company has reported an overall positive net insurance result of SAR14m ($3.7m) in 1H2026, up from a loss of SAR160m in 2025, notes Fitch Ratings.
Saudi Reinsurance (Saudi Re) has posted a net profit of SAR162m ($43.3m) for the first half of this year, 84% higher than in the corresponding half last year.
The Company for Cooperative Insurance (Tawuniya), which ranks among Saudi Arabia's top three insurers, has reported a net profit after zakat, attributable to shareholders of SAR609.85m for the first half of 2026, 16.16% lower than the SAR729.11m in the corresponding half of last year.
The earnings of Aljazira Takaful Taawuni Company (AJT) are supported by diversified sources of profit, with strong and predictable earnings from life insurance offsetting the volatile earnings in non-life lines, notes Fitch Ratings.
Saudi Arabia-flagged, owned or operated vessels, vessels en route to or from Saudi Arabia and the Kingdom's Red Sea ports are assessed at high risk of a Houthi attack, according to Ambrey Analytics.
The total population of the Gulf Cooperation Council (GCC) countries is estimated at 62.8m in 2025, with an average annual growth of 3.5%, according to the GCC Statistical Centre (GCC-Stat). GCC states accounted for around 0.8% of the world's population.
Arabia Insurance Cooperative Company has appointed Mr Resini Alresini as Chief Operating Officer, effective July 2026.