A number of Saudi insurance firms disclosed the impact of the decision of the General Traffic Department as regards compulsory motor insurance on their motor policy sales and gross written premiums (GWPs).
The department urged all vehicle owners to have valid vehicle insurance before the resumption of the automatic issuance of traffic violations from July 22, Argaam reported.
|
Company |
Expected Impact |
Details |
|
Tawuniya |
Expects positive impact on GWPs |
|
|
Malath |
Expects positive impact on motor policy sales |
|
|
Gulf Union |
Expects positive impact on motor policy sales and GWPs. |
|
|
Etihad Insurance |
Expects higher GWPs as of Q3 2020 |
|
|
Walaa |
Expects positive financial performance in 2020 |
|
|
ACIG |
Expects higher motor policy sales |
|
|
Wataniya |
Expects positive impact on financials for 2020 |
|
|
Solidarity |
Expects higher motor policy sales and GWPs |
|
|
Buruj |
Expects higher motor policy sales and GWPs |
|
|
Gulf General |
Expects higher GWPs |
|
|
Al Sagr Cooperative |
Expects higher GWPs |
|
|
Al Rajhi Takaful |
Expects higher motor policy sales, GWPs |
|
|
UCA |
Expects positive impact on GWPs |
|
|
Wafa Insurance |
No financial impact at present |
|
|
Amana |
Expects higher GWPs |
|
|
MEDGULF |
Expects higher policy sales, GWPs |
|
|
Saudi Re |
Expects positive impact on GWPs |
|
|
AXA |
Expects higher GWPs |
|
|
Al Ahlia |
Expects positive impact on GWPs |
|
|
Arabian Shield |
Expects positive impact on GWPs |
|
|
SAICO |
Expects positive impact on GWPs |
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