Insurance

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.
Share
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 Abdullah Al Sharif, Secretary-General, Council of Cooperative Health Insurance (CCHI)
OBG talks to Abdullah Al Sharif, Secretary-General, Council of Cooperative Health Insurance (CCHI)

Covid-19 Economic Impact Assessments

Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.

Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.

Register Here×

Product successfully added to shopping cart