Saudi insurance firms’ solvency margin leaps 177% in Q3 - SAMA

The insurance sector registered investments worth $75.46mln in Q3-21, rising by 21.5% from $62.13mln in Q3-20

  
Saudi riyal. Image used for illustrative purpose.

Saudi riyal. Image used for illustrative purpose.

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Riyadh – The solvency margin rate of Saudi insurance companies has surged by 177.2% year-on-year (YoY) during the third quarter (Q3) of 2021, according to a report by the Saudi Central Bank (SAMA).

The insurance sector registered investments worth SAR 283 million in Q3-21, rising by 21.5% from SAR 233 million in Q3-20.

On the other hand, the official data showed a plunge of 96.5% in the net income of the Saudi insurance firms to SAR 10 million in Q3-21 from SAR 295 million in Q3-20.

Source: Mubasher

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