Saudi Arabia Insurance GWP Surges 10.7% to $22.6bn in 2025, Vision 2030 Strategy Drives Growth

The Quick Take

• Saudi Arabia gross written premiums rose 10.7% in 2025 to SAR 84.3 billion ($22.59 billion), driven by the National Insurance Sector Strategy.
• Health insurance and motor insurance were the primary growth categories, aligned with Saudi Vision 2030 diversification objectives.
• The 10.7% sector growth rate significantly outpaces global insurance premium growth of roughly 3-4%, signalling structural rather than cyclical expansion.

Saudi Arabia insurance sector delivered double-digit premium growth in 2025, with gross written premiums reaching $22.59 billion — a 10.7% expansion year-on-year that reflects the accelerating impact of the National Insurance Sector Strategy launched under the Vision 2030 framework. Health insurance, mandated for Saudi residents and expatriates, and motor insurance have been the volume drivers, benefiting from a growing expatriate workforce and rising vehicle ownership rates as the country executes its economic diversification agenda. The Insurance Authority annual market report confirms the trajectory is policy-driven and durable rather than cyclical.

For regional insurance investors, Saudi Arabia premium growth at 10.7% far exceeds the global industry average and positions Saudi insurers (Tawuniya, Bupa Arabia) as some of the highest-growth insurance names in the emerging market universe. Reinsurance demand from Saudi growing liability pools benefits Swiss Re and Munich Re. UAE insurers face competitive pressure as Saudi expansion draws capital and talent from Dubai and Abu Dhabi insurance hubs.

Key watch signals include the Saudi Insurance Authority 2026 strategy roadmap update, entry of international insurance groups under Vision 2030 liberalisation, and whether health insurance mandate compliance rates improve. The macro variable is Saudi Arabia non-oil GDP growth: premium expansion is structurally correlated with employment and income growth in the non-oil private sector, which Vision 2030 targets at 65% of total GDP by 2030.

Synthesized from 1 source.