19 Feb 2017
(MENAFN) According to analysis by A.M. Best, Saudi insurance market had finally turned around the corner following a period of underwriting instability.
Review by national insurers in Saudi Arabia showed improvement in operating performance in 2016, with the market more than doubling its profit during the year.
During 2015, profit was driven by the strong operating performance of market leaders as the rest of the market produced weak earnings and many companies generated operating losses.
Salman Siddiqui, Senior Financial Analyst, said: “The introduction of actuarial pricing and reserving on motor and medical business lines in 2014, whilst leading to short-term losses, helped to significantly improve discipline and profitability in the market.”
MENAFN1902201700450000ID1095252859
MENAFN1902201700450000ID1095252859
17 Nov 2024
BBK and Asia Jewellers announce exclusive offers to its customers at Jewellery Arabia 2024
12 Nov 2024
BBK partners with Durrat Al Bahrain to offer exclusive financing for Jawhart Al Marjan
05 Nov 2024
As part of its digital transformation journey, BBK adds Google Wallet to its range of digital wallets
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more