Expert: The insurance sector will become a pillar of the Saudi economy

Walid Al-Hamid, an expert in the insurance sector, said that the size of the insurance sector exceeds 53 billion riyals, and in light of the presence of the Insurance Authority, it will become a pillar in the Saudi economy.

Al-Hamid confirmed, during his meeting with the “Saudi Markets” program broadcast on “Al-Ikhbariya”, that insurance is a very important sector in the Kingdom.

The Council of Ministers had agreed in its last session to establish an authority under the name of the Insurance Authority, and Finance Minister Muhammad Al-Jadaan said that the establishment of the authority is an important step for the development and growth of the Saudi insurance sector.

He added that the Insurance Authority will raise the contribution of the insurance sector to the economy, increase job creation and encourage investment.

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