SAMA may allow foreign insurers to operate in Saudi Arabia

The Saudi Arabian Monetary Authority (SAMA), the central bank and insurance sector regulator, will consider requests by foreign insurance firms to operate in the Kingdom, senior executive said on Sunday. 

The insurance market regulator’s approval will be contingent on the robustness of foreign insurers and the expected value-addition to the local economy, Hesham Tashkandi, director general of insurance control at SAMA, said at the fourth Saudi insurance forum.