Insurance premiums surpass 84 billion riyals
The 2025 Insurance Authority report focused on the growth of the insurance sector in Saudi Arabia, where written premiums increased by 10.7% to reach 84.3 billion riyals, supported by a national strategy in alignment with Saudi Vision 2030. Health insurance and vehicle insurance accounted for approximately 89% of this growth, with the number of beneficiaries rising to over 14 million and insured vehicles to 11 million. Despite the sector achieving a net profit of 1.9 billion riyals, the solvency margin ratio decreased to 156.7%, amid variability in capital flexibility among companies. It is expected that a risk-based capital framework will be implemented in 2027 to enhance capital quality and profitability, ensure sustainable growth, and protect beneficiaries’ rights.
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