Saudi Arabia’s insurance industry set to surpass $22bn by 2028: Global Data

Saudi Arabia’s insurance industry set to surpass $22bn by 2028: Global Data

RIYADH: Saudi Arabia’s insurance industry is projected to experience a compound annual growth rate of 5.2 percent until 2028, reaching SR83.7 billion ($22 billion), a study showed.  

This growth, up from the current SR68.3 billion in 2024, is primarily driven by the health and motor segments, which together will account for 86 percent of the overall gross written premiums, according to UK-based consultancy firm Global Data.  Saudi Arabia’s insurance industry set to surpass $22bn by 2028: Global Data