Summary

Our ’Saudi Arabia Insurance Industry - Governance, Risk and Compliance’ report is the result of extensive research into the insurance regulatory framework in Saudi Arabia.

It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operation of insurance and reinsurance companies and intermediaries.

The report brings together GlobalData’s research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, and recent and upcoming changes in the regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.


Key Highlights

  • The SAMA regulates the insurance industry of Saudi Arabia.
  • 49% FDI is permitted in the Saudi Arabian insurance industry.
  • Composite insurance is permitted in Saudi Arabia; provided composite insurers have separate risk managers, reinsurance managers and separate investments for life and general insurance business.
  • Non-admitted insurers and intermediaries are not permitted, with a few exceptions.
  • Motor third-party liability insurance and workmen’s compensation insurance are the key compulsory classes of insurance.




Scope

  • The report covers details of the insurance regulatory framework in Saudi Arabia.
  • The report contains details of the rules and regulations governing insurance products and insurance entities.
  • The report lists and analyzes key trends and developments pertaining to the country’s insurance regulatory framework.
  • The report analyzes the rules and regulations pertaining to the establishment and operation of insurance businesses in the country.
  • The report provides details of taxation imposed on insurance products and insurance companies.




Reasons To Buy

  • Gain insights into the insurance regulatory framework in Saudi Arabia.
  • Track the latest regulatory changes, and expected changes impacting Saudi Arabian insurance industry.
  • Gain detailed information about the key regulations governing the establishment and operation of insurance entities in the country.
  • Understand key regulations and market practices pertaining to various types of insurance product.