Saudi Arabia's Insurance Authority reported that it identified more than 2,000 violations during 2025 and imposed financial penalties totaling about SAR 25 million. The breaches involved supervisory and regulatory obligations, cybersecurity, customer protection, and anti-money laundering and counter-terrorism financing requirements, and were committed by insurance companies and senior executives. Enforcement measures included restricting two insurers from selling or renewing specified compulsory insurance products, suspending an insurance brokerage company, suspending several insurance company board members and appointing external advisers to rectify issues at certain companies. Seven decisions were upheld by the Insurance Disputes and Violations Committees, including license revocations for several insurance support service providers.
2026-02-10Saudi Arabia Insurance Authority
Saudi Arabia's Insurance Authority reports more than 2,000 violations and SAR 25 million in penalties during 2025
Saudi Arabia's Insurance Authority identified more than 2,000 violations during 2025 and imposed about SAR 25 million in financial penalties. Additional measures included product and business suspensions, action against board members, external adviser appointments and license revocations.