The Insurance Authority Announces the Approval of the Licensing Requirements for the Underwriting Activities
هيئة التأمين تعلن اعتماد لائحة متطلبات الترخيص لنشاط الاكتتاب
The Insurance Authority announced on 25 March 2026 the approval of the Licensing Requirements Regulation for Underwriting Activities, aimed at regulating the practice of underwriting by insurance companies and Managing General Agents (MGAs). Key licensing requirements include obtaining a licence from the Insurance Authority prior to commencing underwriting activities, maintaining a registered office within Saudi Arabia, a minimum capital of SAR 1,000,000, and a professional indemnity insurance policy of no less than SAR 3,000,000, in addition to meeting governance, compliance, and risk management requirements. The regulation also sets out procedures for submitting licensing applications, including submission of statutory documents, a business plan, and a financial study, with the Authority committing to review and decide on applications within defined timeframes.
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