The Saudi Arabia Insurance Authority reported that gross written premiums rose 14.4% year over year to SAR 29.8 billion in the first quarter of 2026, compared with 10.7% growth during 2025. Insurance penetration relative to non-oil gross domestic product increased to 3.1%, while the sector’s net combined ratio improved to 98.3% from 99.9%. Health insurance remained the largest segment, accounting for 62% of the market with SAR 18.5 billion in gross written premiums and 14.5 million beneficiaries. Motor insurance generated SAR 5 billion in premiums, with coverage expanding to 11.2 million vehicles. The monthly complaint rate declined to 0.09% from 0.12%, while local reinsurance capacity rose to 37% of total ceded premiums.
2026-09-08Saudi Arabia Insurance Authority
Saudi Arabia Insurance Authority reports 14.4% premium growth to SAR 29.8 billion in first quarter of 2026
The Saudi Arabia Insurance Authority reported that first-quarter gross written premiums increased 14.4% year over year to SAR 29.8 billion, while the net combined ratio improved to 98.3%. Health insurance represented 62% of the market, and local reinsurance capacity reached 37% of total ceded premiums.