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Insurance stocks surge as Cabinet approves sector’s strategy
AI Summary
Content Summary: 
Tadawul trading screen
Shares of TASI-listed insurers soared today, Jan. 21, after the Saudi Cabinet approved the National Insurance Sector Strategy on Jan. 20.
The strategy aims to strengthen insurance protection for individuals and businesses, develop a sustainable and efficient insurance market, and expand coverage for national risks.
Several stocks rose to the daily ceiling, including The Company for Cooperative Insurance (Tawuniya), Bupa Arabia for Cooperative Insurance Co. (Bupa Arabia), Al Rajhi Takaful and The Mediterranean and Gulf Insurance and Reinsurance Co. (MEDGULF).
|
Stocks Performance |
||
|
Company |
Price (SAR*) |
Change |
|
Tawuniya |
127.90 |
10% |
|
Bupa Arabia |
144.50 |
10% |
|
Al Rajhi Takaful |
84.45 |
10% |
|
MEDGULF |
13.27 |
10% |
|
Gulf General |
4.30 |
9% |
|
UCA |
3.89 |
8% |
|
CHUBB Arabia |
24.98 |
8% |
|
Saudi Re |
30.80 |
8% |
|
Wataniya |
13.83 |
7% |
|
Al Sagr |
10.33 |
6% |
|
Liva |
11.56 |
6% |
|
Malath Insurance |
10.20 |
6% |
|
Al-Etihad |
8.29 |
6% |
|
GIG |
23.74 |
6% |
|
Walaa |
11.22 |
6% |
|
Amana Insurance |
6.40 |
6% |
|
Mutakamela |
11.46 |
6% |
|
Salama |
9.88 |
6% |
|
SAICO |
11.76 |
5% |
|
Saudi Enaya |
7.74 |
5% |
|
AlJazira Takaful |
12.22 |
5% |
|
AICC |
9.42 |
5% |
|
ACIG |
7.94 |
5% |
|
Gulf Union Alahlia |
10.50 |
4% |
|
Arabian Shield |
12.09 |
3% |
The Insurance Authority (IA) said it will collaborate with partners and stakeholders to achieve strategic goals, relying on key pillars and enablers. These include 11 strategic programs tied to objectives and 72 initiatives supporting them, all contributing to nine strategic promises aligned with Saudi Vision 2030, representing the main expected outcomes.
The programs cover health insurance, motor insurance, personal property and accident insurance, protection and savings plans, corporate property and accident insurance, reinsurance, retention and capacity, uninsured risks, regulations and legislation, technology, data and AI, and human capital.
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