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Insurance premiums reach 29.8B Riyals Q1 2026
The Insurance Authority revealed that the total gross written premiums in the Saudi insurance market increased to 29.8 billion Riyals during the first quarter of 2026, representing an annual growth rate of 14.4%, compared to 10.7% in 2025. The report indicated that the insurance market continues to develop, with the insurance penetration rate rising relative to non-oil GDP to reach 3.1%. Premiums in health insurance held the largest share at 62%, amounting to 18.5 billion Riyals, while motor insurance premiums increased to 5 billion Riyals, with expanded coverage reaching 11.2 million vehicles and an improved customer experience reflected in a decrease in the monthly complaint rate to 0.09%. Additionally, the level of domestic reinsurance grew to 37% of total premiums, supporting the market’s retention of a larger share of premiums domestically and enhancing its capacity to cover large risks.
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