Insurance sector shifts to quality growth
The Saudi insurance sector achieved significant growth in 2025, nearly doubling in size from 42 billion riyals in 2021 to over 84 billion riyals. The number of beneficiaries of health insurance increased to 14.47 million, and those with vehicle insurance reached 11 million vehicles. Additionally, the workforce in the sector rose to more than 19,000 employees. Companies enhanced their capital adequacy, with the solvency ratio reaching approximately 156%. They also maintained an investment portfolio valued at 72.3 billion riyals and generated investment income of 1.59 billion riyals. Claims payments amounted to 53 billion riyals, marking a 10% increase. The sector is preparing for a quality growth test in 2026 amidst economic and geopolitical changes, with a strong focus on enhancing affordability, improving service quality, and ensuring profit sustainability.
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