08 September 2026
The Insurance Authority revealed in its Saudi Insurance Market Report for Q1 2026 that gross written premiums (GWP) reached SAR 29.8 billion, representing 14.4% year-on-year growth, compared with 10.7% in 2025. Insurance penetration relative to non-oil GDP also increased to 3.1%. Q1 2026 indicators reflect continued growth in the insurance sector and improved operational performance, alongside stronger competition, greater market efficiency, and an enhanced beneficiary experience, supporting the objectives of the National Insurance Sector Strategy and Saudi Vision 2030.
The report highlighted several developments in sector performance, including an improvement in the net combined ratio to 98.3%, compared with 99.9%. Health insurance recorded the largest market share, with GWP reaching SAR 18.5 billion, representing 62% of the market, while the number of beneficiaries reached 14.5 million.
In motor insurance, performance improved alongside expanded insurance coverage, reaching 11.2 million vehicles. Motor insurance GWP reached SAR 5 billion, while beneficiary experience improved, with the monthly complaint rate declining to 0.09%, compared with 0.12%.
The report also noted an increase in domestic reinsurance capacity to 37% of total ceded premiums, supporting greater retention of premiums within the local market while leveraging global reinsurance markets to cover large and specialized risks.
The Authority invites interested parties to learn more about the report through the following link:
https://www.ia.gov.sa/en/information-center/reports/quarterly-publications