Magazine date:
Mar 2017 In 2016, motor insurance posted an 11.7% growth in its turnover which amounted to 11.4 billion SAR (3 billion USD) against 10.2 billion SAR (2.7 billion USD) one year ago. This performance was achieved despite the decline in the number of new vehicles registered in the Kingdom.
With 27 companies operating in the sector, the motor class of business accounts for 32% of the Saudi insurance market in 2016 thus coming second after health insurance. Malath insurance, Al Rajhi Takafwul and Al Tawuniya dominate the motor insurance market accounting, alone, for 44% of the overall motor underwritings.
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