Saudi Arabia Insurance 2013
Over the past decade Saudi Arabia’s insurance industry has become an important contributor to the economy. In 2011 the sector brought in gross written premiums of $4.93bn, up nearly 13% from $4.37bn the previous year. The majority of this expansion took place in the health and general insurance segments, which together account for more than 95% of the total market. Going forward, with the Kingdom’s rapidly growing population becoming increasingly aware of the benefits of coverage, the industry is expected to continue to expand. While insurance penetration remains low compared to more developed markets around the world, most projections show it rising through 2020 as a result of the Kingdom’s strong economic fundamentals. The reinsurance industry has also grown substantially in recent years. This chapter includes an interview with Abdullah Al Sharif, Secretary-General, Council of Cooperative Health Insurance. It also includes a viewpoint with Dr Metaib Al Rawqi, CEO, Weqaya Insurance.
Cover of The Report: Saudi Arabia 2013

The Report

This chapter is from the Saudi Arabia 2013 report. Explore other chapters from this report.

Interviews & Viewpoints

Sketch of Dr Metaib Al Rawqi, CEO, Weqaya Insurance
Dr Metaib Al Rawqi, CEO, Weqaya Insurance, on the changing picture of the Kingdom’s insurance industry

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