Saudi Re for Cooperative Reinsurance Co. (Saudi Re) expects a positive financial impact on its gross written premiums (GWPs), as the General Department of Traffic (GDT) automated detection of insurance violations.
It is currently difficult to assess the relevant financial impact, Saudi Re said in a statement to Tadawul, adding that any developments will be announced in due course.
The GDT announced a decision about the automatic linking of motor insurance procedures in its records at the National Information Center.
The step will result in the automated seizure of vehicles with expired insurance policies starting from July 22, 2020.
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