KSA: Paid claims increased by 102% in average over the last seven years

The claims settled by Saudi insurance companies have grown significantly during the last seven years. The rate of 715% reported over the period corresponds to an annual 102% average increase.

According to the statistics of the supervisory authorities, the claims settled amounted to 8 billion SAR (2.1 billion USD) at the end of the second quarter of the current year compared to 990 million SAR (264 million USD) at the second quarter of 2009. Between the first and the second quarter of 2016, the claims settled witnessed an 11% increase going from 7.2 billion SAR up to 8 billion SAR (1.9 to 2.1 billion USD).

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