Saudi Arabia to introduce new insurance products, services over coming period: official

Adel Al-Issa, spokesman for the General Committee of Insurance Companies

The Saudi Central Bank (SAMA) is coordinating with government business sectors as well as Najm Co. to introduce a number of insurance products and services over the coming period, Al-Eqtisadiah newspaper reported, citing Adel Al-Issa, spokesman for the General Committee of Insurance Companies.

The auto insurance sector is one of the fastest-growing industries in the Kingdom, Al-Issa indicated. He further added that it is a key fundamental in achieving sustainable development and Vision 2030 objectives, including boosting the contribution of the local content as well as building a diversified economic base.