Orient Insurance gets IA’s approval to practise

Logo of The Insurance Authority (IA) 

Saudi Arabia’s Insurance Authority (IA) licensed Dubai-based Orient Insurance Co. to practice general and medical insurance activities in the Kingdom. The company will operate by providing general insurance, health insurance, protection, and savings services.

Orient Insurance’s entry into the Saudi market is expected to enhance the competitiveness of the sector by offering insurance solutions that meet the needs of individuals and businesses, and support innovation in business models, the Saudi Press Agency reported, citing a statement by IA.

The IA pointed out that this move is part of its ongoing efforts to strengthen financial stability and grow the insurance sector, as well as support development opportunities, diversify the investor base, and add value to the local market.

The IA further urged all citizens and residents to deal only with licensed companies, verified through its official website.