The CEO of the Insurance Authority, Eng. Naji Al-Tamimi, highlighted the developments taking place in the Saudi insurance sector and the investment opportunities available to global partners in the fields of insurance and investment. He noted that the Saudi insurance sector is expected to witness strong growth over the next five years, with the market projected to double in size by 2030 to exceed SAR 140 billion. Insurance penetration in non-oil GDP is also expected to increase to 3.6 percent, alongside a rise in the risk-based capital to SAR 50 billion.
This came during his participation as part of the official delegation of the Kingdom of Saudi Arabia at the World Economic Forum, held in Davos, Switzerland, from January 19 to 22, 2026. The participation aligns with the objectives of the National Insurance Sector Strategy, which aims to build a strong and sustainable insurance market that supports economic diversification and provides protection for individuals and businesses, in line with Saudi Vision 2030 objectives, A Thriving Economy, A Vibrant Society, and An Ambitious Nation.
In this context, and in the presence of the Minister of Investment, H.E. Eng. Khalid Al-Falih, the Insurance Authority organized a roundtable meeting in Zurich on January 23, attended by executives from more than 30 local and international companies. The meeting reviewed the current state of the Saudi insurance sector, key priorities, growth expectations, and the regulatory and operational developments since the establishment of the Insurance Authority in 2023, in addition to the investment opportunities available in the market.
The CEO of the Insurance Authority also accompanied the Minister of Investment in a meeting with the Lord Mayor of the City of London's financial district, Ms. Susan Langley, on the sidelines of the forum. The meeting discussed enhancing cooperation and exchanging expertise between the Saudi market and the City of London, with a view to supporting the development and efficiency of the Saudi insurance market and strengthening financial market integration.
In addition, Eng. Al-Tamimi held a number of bilateral meetings with executives from global insurance and reinsurance companies, as well as investment firms. The meetings focused on cooperation opportunities and the regulatory environment of the insurance sector in the Kingdom, as well as the Kingdom's efforts to develop the market and adopt international best practices to support its sustainability.