Magazine date:
Jun 2022 
The Saudi central bank (SAMA) reported that the local insurers recorded a 8.39% turnover increase in 2021. The latter went from 338.78 billion SAR (10.33 billion USD) in 2020 to 42.03 billion SAR (11.20 billion USD) in 2021.
The Saudi insurance market [4] is dominated by the health activity with 25.11 billion SAR (6.69 billion USD) of written premiums, which represents nearly 59.7% of the total premium income.
Read also | Top 10 insurance companies in Saudi Arabia [5]
Saudi insurance market : 2021 turnover per class of business
In thousands
| Class of business | 2021 turnover | 2020-2021 evolution (1) | 2021 shares | |
|---|---|---|---|---|
| En SAR | En USD | |||
| Health | 25 109 400 | 6 686 633 | 9.95% | 59.74% |
| Motor | 8 162 700 | 2 173 727 | -2.34% | 19.42% |
| Property damage and fire | 2 282 100 | 607 723 | 8.20% | 5.43% |
| Accident and third party liability | 1 586 400 | 422 458 | 15.80% | 3.78% |
| Energy | 1 295 300 | 344 939 | 42.22% | 3.08% |
| Engineering | 1 002 000 | 266 833 | -5.63% | 2.38% |
| Marine | 696 300 | 185 425 | 0.91% | 1.66% |
| Aviation | 189 100 | 50 357 | 5.88% | 0.45% |
| Total non life | 40 323 300 | 10 738 095 | 7.49% | 95.94% |
| Savings & pension | 1 707 200 | 454 627 | 35.11% | 4.06% |
| Grand total | 42 030 500 | 11 192 722 | 8.39% | 100% |
(1) Evolution in local currency
Exchange rate as at 12/31/2021: 1 SAR = 0.2663 USD
Read also | Saudi insurance market in 2022 [6]
