Saudi Arabia, motor and health insurance skyrocketing in 2015

The sector’s overall turnover has been estimated at 36.37 billion SAR (9.7 billion USD). The premiums   generated by the health class of business jumped by 20% in 2015, attaining 18.96 billion SAR (5 billion USD.

With a market share of 52%, health is the country’s first class of business. Bupa Arabia, Tawuniya and Medgulf, alone, account for 79% of the health insurance premiums, 39% of which by Bupa Arabia. With 10.6 billion SAR in premiums (2.82 billion USD), the motor insurance comes second in terms of the most written risks in the kingdom. Its year-on-year progression is of 32% while its market share amounts to 29%. It is Malath Insurance that dominates the motor class of business with 1.59 billion SAR (423.98 million USD) and a market share estimated at 15%.