SAMA Issues 2nd Quarterly Report of Year 2020 for Insurance Sector

Wednesday 1442/2/13 - 2020/09/30
  • Share on Google+

Riyadh, September 30, 2020, SPA -- The Saudi Arabian Monetary Authority (SAMA) has announced the release of the second quarterly report of the insurance sector for the year 2020. The report compares the performance of the Insurance Sector during Q2 2020 with the corresponding quarter in the preceding year.
The report shows positive developments during Q2 2020. The Total market GWP grew by over 5% compared to Q2 2019, Net Income for the sector also grew driven by the growth in operating income. In addition, the report highlighted the improvement of Solvency ratio as it reached 172%. The Combined Ratio decreased to reach 87.3%. Loss Ratio for both Health and Motor insurance (the largest lines of business) reduced noticeably.
18:41 LOCAL TIME 15:41 GMT