Insurance Authority localizes insurance product sales jobs as of mid-April

Logo of Insurance Authority

The Insurance Authority issued today, Dec. 12, a decision to localize all sales positions in insurance products starting from April 15, 2024.  

The decision states that non-specialized sales employees will not be granted any commissions related to sales. The Insurance Authority will monitor the implementation of the localization decision from the date of its issuance until reaching the targeted localization percentage.  

The decision to localize the sales sector is anticipated to exert a substantial impact, not only on the sector itself, but also on the overall Saudization rates within the Kingdom.

This move is poised to foster the development of specialized national competencies with a vested interest in the insurance sector. Consequently, it is expected to enhance overall performance standards and elevate the quality of services delivered in the industry.