10 February 2026
The Insurance Authority announced that during 2025, it identified more than 2,000 violations related to breaches of supervisory and regulatory requirements, cybersecurity requirements, customer protection regulations, and anti-money laundering and counter-terrorism financing requirements. These violations were committed by several companies operating in the sector, in addition to individuals holding senior executive positions.
The Authority stated that monitoring these violations resulted in the issuance of several regulatory decisions, most notably the imposition of financial penalties totalling approximately SAR 25 million. These measures also included suspending one insurance company from selling the compulsory motor insurance product and suspending another insurance company from issuing or renewing compulsory health insurance policies, motor insurance policies, and domestic labour contract insurance policies.
The decisions further included the suspension of an insurance brokerage company from conducting business, the suspension of several board members of insurance companies from performing their duties, and the appointment of several external advisors to rectify the positions of certain companies.
The Authority also indicated that Seven of its decisions were upheld by the Insurance Disputes and Violations Committees, including decisions to revoke the licenses of several insurance support service providers.
The Authority emphasized that these actions stem from its supervisory and regulatory mandate over the insurance sector, aimed at strengthening compliance and discipline within the sector, enhancing its stability, and increasing stakeholder confidence, thereby safeguarding the rights of policyholders and beneficiaries.
The Insurance Authority invites those wishing to review the details of these decisions to visit its official website via the following link