23.10.2009 - Saudi insurance 'ripe for consolidation'
From Tradearabia.com: The Saudi insurance sector is heading towards a wave of consolidation as new players squeeze into an already crowded market, the head of Tawuniya, the country's largest insurance company said. The Saudi central bank has authorised some 30 new insurance firms to be set up over the last three years to unlock the sector's growth potential and increased the competitive pressure on Tawuniya, the kingdom's most lucrative insurance firm and one of its oldest.........................Full Article: Source