Oliver Wyman, a global leader in management consulting and a business of Marsh McLennan, has appointed Mr Abdulelah AlBarrak as the new office leader for Riyadh.
The Saudi Arabian insurance industry's profits (after-zakat & tax) dropped by 28% in the first three months of 2025 to SAR0.6bn ($160m) in 1Q2025 from SAR0.9bn in 1Q2024, Badri Management Consultancy, an international actuarial consulting company, has said.
The United Cooperative Assurance Company has announced the upcoming retirement of its CEO, Mr Mohammed bin Mohammed Saeed Basrawi, effective 30 June 2025.
There is growing recognition of the importance of financial security in the workplace in the GCC, with the average age of those with income protection falling to 41 from 51 over the last three years, according to Zurich International Life Insurance Middle East, a subsidiary of Zurich Insurance Group.
Saudi Enaya Cooperative Insurance Company (Enaya) and Salama Cooperative Insurance Company (Salama) announced yesterday that the General Authority for Competition has issued a no-objection to a proposed merger between the two insurance companies.
GlobeMed Saudi, a healthcare benefits management company has announced a collaboration with Orient Insurance - Saudi Branch, part of Orient Group, a top-tier insurance provider in the UAE with strong regional expertise.
Mergers and acquisitions (M&As) are expected to pick up again in the Saudi insurance market, following the recent cooling down of such activities, according to insurance sector expert Adel Al Eisa.
Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for both corporates and individuals, has delivered strong financial results for the first quarter of 2025.
The impact of intense price competition in medical and certain motor segments are now coming through in the Saudi insurance market, says Badri Management Consultancy, an international company specialising in actuarial and management consulting services.
Saudi Reinsurance has posted net profits after zakat attributable to shareholders of SAR35.4m in the first quarter of this year, 11.4% higher than in the corresponding quarter of 2023.