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FINANCIAL NEWS
Saudi insurance sector records USD200m profit in 2014
27 Apr 2015
(MENAFN) The 37 listed Saudi insurance firms recorded an accumulated profit of USD200 million in 2014, compared to USD380 million losses recorded back in 2013, Gulf News reported.
With such results, Saudi Arabia stands as the second-best insurance market in the Gulf Cooperation Council (GCC), especially when its whole economy is poised to accumulate further growth.
“Despite this significant growth, Saudi Arabia has the lowest insurance density in the GCC and one of the region’s lowest penetration levels.” Moody’s insurance sector analyst said.
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