Insurance Authority Issues the Saudi Insurance Market Report of 2024
هيئة التأمين تُصدر تقرير سوق التأمين السعودي لعام 2024
The Insurance Authority issued the Saudi Insurance Market Report for 2024, showing growth in total underwritten premiums, notably in protection and savings insurance, and a rise in insurance sector penetration of non-oil GDP to 2.59% in 2024. The report stated sector profits reached SAR 3.6 billion in 2024, up from SAR 3.2 billion in 2023, driven by improved insurance service results and investment income. It also covered key regulatory developments, including new regulatory rules and standardized templates for several insurance products.
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