Saudi insurance market as at 30 September 2022

Saudi Central Bank (SAMA)The Saudi Arabian Central Bank (SAMA) has released the main indicators of the local market activity as at 30 September 2022.

During the first nine months of 2022, Saudi insurers recorded an overall turnover of 40.2 billion SAR (10.7 billion USD). The premium volume has grown by 25.1% compared to the end of September 2021.

During the period under consideration, the net profit generated by insurance companies reached 559.4 million SAR (148.965 million USD), representing a 19.8% increase over one year. The investment income amounting to 1.074 billion SAR (286 million USD) has improved by 21.7% over twelve months.

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