Health, motor insurance represents 73% of sector by end-2024: Official

Naji Al-Tamimi, CEO of the Insurance Authority (IA)

Naji Al-Tamimi, CEO of the Insurance Authority (IA), said the Saudization rate in the insurance sector reached 85%, confirming that the authority is working to enhance enablers to achieve the best possible outcomes in localization.

 

In an interview with Asharq, Al-Tamimi added that the sector witnessed a 16.3% growth, with gross premiums reaching SAR 76.1 billion.

 

He noted that health and motor insurance accounted for the largest share of around 73% by the end of 2024.

 

More than 13 insurance products were licensed in 2024, most of which are innovative, Al-Tamimi said.

 

He pointed out that the protection and savings sector saw a 200% growth, with gross premiums amounting to SAR 7.7 billion.

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