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2026-09-09T13:54:57.574Z

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Saudi Arabia Sets Up War Risk Insurance Fund

Saudi Arabia Sets Up War Risk Insurance Fund

The Saudi Cabinet has approved the creation of a fund to insure against war risks for goods and ships, aimed at strengthening the capacity of the insurance market to handle maritime risks, supporting the continuity of trade and supply chains through a public-private partnership. This fund will contribute to enhancing the technical readiness of the insurance market and expanding its capabilities, thereby increasing the resilience of the national economy and preparing the Kingdom to become a global logistics hub. The Saudi Reinsurance Company will oversee the arrangements of the fund under the supervision of the Insurance Authority, and it will benefit insured parties through participating insurance companies according to approved conditions.

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