Magazine date:
May 2020 
The current health crisis is undermining Saudi insurance companies [4]. In order to safeguard their portfolios, they have granted premium rebates of 60 to 70% on motor policies. As a result, their results of 2020 are likely to decrease significantly.
The fall in profits might accelerate mergers/acquisitions between the various market operators. Walaa Cooperative Insurance and MetLife AIG have already merged in March.
Other companies might soon follow their lead, such as SAMA which is planning to increase the minimum capital requirement to cope with the market turbulence of the recent years.