A study conducted by the company "Al Bilad Capital", highlights the high concentration of the Saudi insurance market. The top four insurers (Bupa Arabia, Tawuniya, Med Gulf and Malath) alone account for 59% of the local market.
Eight other companies control 24% of the market, while the last 21 insurance companies share the remaining 17% with each insurer’s market share not exceeding 2%.
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