Due to the current pandemic, the Saudi insuranc market [4] is facing a decline in motor underwritings.
This situation worries local insurers whose profits are believed to be severely affected. In order to protect their portfolio, insurance companies are offering discounts of 60-70% on motor insurance.
They have also made donations worth 68 million SAR (18.055 million USD) to help fight the Coronavirus.
Links:
[1] https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.atlas-mag.net%2Fen%2Farticle%2Fsaudi-motor-insurance-impacted-by-coronavirus&text=Saudi+motor+insurance+impacted+by+Coronavirus
[2] https://www.linkedin.com/shareArticle?url=https%3A%2F%2Fwww.atlas-mag.net%2Fen%2Farticle%2Fsaudi-motor-insurance-impacted-by-coronavirus&source=Atlas Magazine&mini=true
[3] https://www.atlas-mag.net/en/issue/insurers-facing-the-pandemic
[4] https://www.atlas-mag.net/en/article/saudi-insurance-market-a-5-annual-growth-expected-until-2024