Growth of 18% of the insurance market in 2013

According to first provisional figures, the Saudi insurance market has achieved in 2013 a growth of 18.2% of its turnover to 25 billion SAR (6 billion USD).

Profit before tax (zakat) is in sharp decline. It shows a loss of 1.3 billion SAR (346.7 million USD). From a total of 33 companies, 21 of them show a loss in 2013 when they were only eight in 2012 to present a deficit.

Note that Tawuniya continues to lead the market in terms of gross written premiums with 5.6 billion SAR (1.5 billion USD).

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