Takaful

Only the strongest will survive? Authorities crack down on Saudi insurers

It has been a tough month for the Saudi insurance market as the regulator cracks down on a perceived lack of compliance within the industry, while the central bank is reported to be preparing a new set of rules with the target of streamlining the...


Takaful

Consolidation on the cards as mergers multiply; new insurance initiative for SMEs

The Saudi insurance market is overcrowded, with 35 insurance companies listed on the stock exchange and a number of mergers and acquisitions on the cards as the cooperative sector seeks to amalgamate. The market has long been viewed as ripe for...


Takaful

Investment patterns change for Saudi insurers as GCC bond markets open up

At the end of 2016 insurance companies contributed just 2.5% of GDP, but accounted for around 20% of transactions in listed companies, and around 14% of total trading value and volume, according to Saudi Re chief investment officer Mamraj Chahar....


Takaful

Changes afoot for the Saudi health insurance sector

Health insurance is a key growth target for Islamic insurers in Saudi, with estimates of around 2.5 million citizens working in the private sector with no medical cover. As the Cooperative Health Insurance Council focuses on expanding its provision...


Takaful

Insurance in Saudi starts to make headway after a positive 2016

Saudi Arabia’s insurance companies are finally making profits thanks to regulatory interventions, ending a protracted period of losses for many of the 34 cooperative operators caught in a fiercely competitive market where the value of insurance...


Takaful

Takaful companies under solvency pressure, healthcare sector presents opportunity

The biggest news so far this year has been the announcement of new plans from the Saudi Arabian Monetary Authority (SAMA) to increase traffic for the insurance industry. Expected to come into effect in April this year, the new rules require...


Takaful

Insurance: Islamic insurance sees surge in Saudi market despite external pressures

The Saudi insurance sector has seen a surge in the first nine months of the year, with earnings of Saudi insurance companies up 100% over the same period in 2015 and firms expected to record a 104% profit rate in comparison to last year, according...