Saudi insurance market in 2023
In thousands
| Class of business | 2023 | 2022 | 2022-2023 evolution (1) | 2023 shares | ||
|---|---|---|---|---|---|---|
| SAR | USD | SAR | USD | |||
| Health | 38 625 600 | 10 293 723 | 31 829 800 | 8 476 276 | 21.35% | 59.01% |
| Motor | 14 287 900 | 3 807 725 | 10 340 600 | 2 753 702 | 38.17% | 21.83% |
| Property damage | 2 816 500 | 750 597 | 2 463 100 | 655 924 | 14.35% | 4.30% |
| Accident and third party liability | 2 746 900 | 732 049 | 2 675 700 | 712 539 | 2.66% | 4.20% |
| Engineering | 2 104 600 | 560 876 | 1 593 800 | 424 429 | 32.05% | 3.21% |
| Energy | 1 287 600 | 343 145 | 1 652 700 | 440 114 | -22.09% | 1.97% |
| Marine | 747 900 | 199 315 | 692 300 | 184 359 | 8.03% | 1.14% |
| Aviation | 276 300 | 73 634 | 234 600 | 62 474 | 17.77% | 0.42% |
| Total non life | 62 893 300 | 16 761 064 | 51 482 600 | 13 709 816 | 22.16% | 96.08% |
| Savings & pension | 2 565 800 | 683 786 | 1 873 600 | 498 940 | 36.94% | 3.92% |
| Grand total | 65 459 100 | 17 444 850 | 53 356 200 | 14 208 756 | 22.68% | 100% |
(1) Evolution in local currency
Exchange rate as at 31/12/2023 : 1 SAR = 0.2665 USD ; 31/12/2022 : 1 SAR = 0.2663 USD
Read also | Insurance companies in Saudi Arabia
