Cabinet ratifies National Insurance Strategy

Custodian of the Two Holy Mosques King Salman bin Abdulaziz

Saudi Cabinet, chaired by King Salman bin Abdulaziz, approved today, Jan. 20, the National Insurance Sector Strategy, according to the Saudi Press Agency (SPA).

The Cabinet highlighted the tangible expansion of the Kingdom’s production base, noting that most non-oil activities have achieved annual growth of 5% to 10% over the past five years, reaffirming their pivotal role in driving economic prosperity and enhancing sustainability and inclusiveness across various sectors.

The Cabinet also reviewed developments related to strengthening Saudi economic partnerships, praising the successful outcomes of the fifth edition of the Future Minerals Forum (FMF) held in Riyadh.

FMF witnessed broad participation and the signing of 132 agreements and memoranda of understanding (MoUs) valued at more than SAR 100 billion, covering multiple areas including exploration, mining, financing, research and development, and innovation.