The Insurance Authority (IA) has issued an insurance sector report for 1st Quarter of 2024 which shows increasing in Gross Written Premiums (GWP) of the Saudi Insurance Sector, reaching SAR 22.6 billion compared to SAR 18.9 billion in Q1 2023.
Also, the report highlights that the insurance companies net income after zakat and tax increased from SAR 606 million in Q1 2023 to SAR 897 million in Q1 2024.