Magazine date:
Nov 2023 
According to Badri Management Consultancy, the turnover of Saudi Arabia's listed insurance companies amounted to 49 billion SAR (13.05 billion USD) during the first three quarters of 2023. It is up 26% compared to the 39 billion SAR (10.38 billion USD) reported in the same period of 2022. The net profit before zakat reached 2.965 billion SAR (789.8 million USD).
This increase in the premium volumes is accounted for by the revision of motor insurance premiums and by the State's efforts to reduce the number of uninsured vehicles on the road. In September 2023, the number of underwritten insurance policies jumped by 260% compared to normal.
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