The insurance market in Saudi Arabia has changed dramatically in the past decade, with further development anticipated, according to a recently released A.M. Best Co. report.
“Since the Saudi Arabian Monetary Agency (SAMA) began regulating the sector in 2003, there have been significant advancements to the regulatory environment, in particular structural changes to insurers. Companies were required to become majority Saudi-owned and have needed to move onshore to the Kingdom,” said Dean Portelli, senior financial analyst………………………………………..Full Article: Source