Al-Jad'an offers marine insurance coverage
The Minister of Finance, Mohammed bin Abdullah Al-Jadaan, confirmed that establishing the Saudi Fund for Insurance against War Risks to Goods and Vessels contributes to enhancing the readiness of the Saudi insurance market and strengthening the resilience of the national economy. This is achieved through providing specialized insurance coverage for marine risks via a partnership between the public and private sectors. The fund aims to increase the market’s capacity to cover maritime risks. It comes in the context of the growth of the Saudi insurance sector, which totaled 29.8 billion riyals in premiums during the first quarter of 2026, recording an annual increase of 14.4%. The initiative also seeks to expand the sector’s capacity to absorb risks and support the smooth movement of goods and vessels amidst the rising commercial activities of the Kingdom.
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