Saudization of all insurance product sales jobs takes effect on Monday – Saudi Gazette

Saudization of all insurance product sales jobs takes effect on Monday – Saudi Gazette

Saudi Gazette Report RIYADH — The Ministry of Human Resources and Social Development announced that the government decision to Saudize all jobs related to sales of insurance products takes into effect on Monday, April 15. The ministry’s move to implement this decision, in partnership with the Insurance Authority, is aimed at creating jobs for Saudi citizens as well as to enhance the economic activity of the insurance sector. The Insurance Authority will follow up on the implementation of the Saudization decision from the date of issuance of the decision until the target Saudization percentage is reached. This is within the jurisdiction of the authority’s supervisory and oversight roles over the insurance sector.In December 2023, the Insurance Authority issued its decision to Saudize all jobs related to sales of insurance products from the middle of April. The decision stipulates that insurance workers in the non-sales sector are not entitled to accept any commissions related to sales.The decision to localize the sales sector is expected to have a significant impact not only on the sector but also on the total rates of Saudization in the Kingdom. This would also contribute to developing specialized national competencies interested in the insurance sector, as well