Message from Our CEO

Insurance is a cornerstone of Saudi Arabia’s Vision 2030, underpinning economic transformation and sustainable development. As the Kingdom diversifies its economy, insurance enhances stability across key sectors, including health, infrastructure, and SMEs.

The Financial Sector Development Program (FSDP) has prioritized insurance growth, aiming to increase penetration and its contribution to GDP. Recent regulatory reforms, including the establishment of the Insurance Authority, have strengthened oversight and market transparency. Mandatory coverage, digital innovation, and reinsurance mandates are driving sector maturity and resilience.

Insurance supports investor confidence by mitigating risks associated with both large-scale and SME projects. The rise in gross written premiums reflects strong market momentum and potential for consolidation and growth. InsurTech and sandbox initiatives are accelerating innovation and customer-centric product development.

Tailored insurance solutions will be key in supporting Saudi Arabia’s dynamic SME and startup ecosystem. Ultimately, a strong insurance sector is essential to realizing Vision 2030’s goals of a vibrant society and a thriving economy.