The Insurance Authority has published the Saudi Insurance Market Report for 2024, highlighting strong growth across the sector.

According to the report, the insurance industry recorded a 16.3% increase in premiums, with total gross written premiums reaching SR 76.1 billion in 2024.

Reinsurance premiums also saw a notable rise, climbing to SR 11 billion in 2024 compared to SR 9.2 billion in 2023.

Additionally, the sector reported a net income of SR 3.6 billion in 2024, up from SR 3.2 billion in the previous year.

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