Saudi Arabia: Future mergers expected among insurers
The insurance markets in the Middle East are saturated, no longer able to accommodate any new companies. This is particularly the case of Saudi Arabia where Salah Al Jaber, president of Asharqia Chamber, has announced in the local newspaper, Okaz, that some warning signs foreshadow a future wave of mergers among insurers. He adds that it is nonetheless too early to disclose further details.
The indicators unveiled since the beginning of 2017 show that the majority of insurance companies generated profits in 2016, though. Asharqia is an entity whose objective is to incite the private sector to chip in to the country’s economic activity in a more substantial fashion.
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