Insurance sector in Saudi Arabia grew 8.4% in 2021: SAMA

The report added that the increase in investment income helped offset the impact of operational losses.
Short Url
Updated 12 May 2022
Follow

Insurance sector in Saudi Arabia grew 8.4% in 2021: SAMA

The insurance sector in Saudi Arabia grew 8.4 percent in 2021, according to the 15th annual report on the insurance market released by the Saudi Central Bank, also known as SAMA. 

According to the report, the total written premium in 2021 stands at SR42 billion (11.2 billion). 

The report further stated that the contribution of insurance sector to non-oil GDP decreased slightly by -0.01 percent to reach 1.91 percent, while the overall loss ratio increased to reach 83.4 percent in 2021 compared to 76.7 percent in 2020

The net loss in the insurance sector after zakat and tax now stands at SR47 million in 2021 compared to a net profit of SR1.38 billion in the previous year.

The report added that the increase in investment income helped offset the impact of operational losses. 


Saudi Arabia ranks 2nd globally in digital government, World Bank 2025 index shows


Updated 18 December 2025
Follow

Saudi Arabia ranks 2nd globally in digital government, World Bank 2025 index shows


WASHINGTON: Saudi Arabia has achieved a historic milestone by securing second place worldwide in the 2025 GovTech Maturity Index released by the World Bank.

The announcement was made on Thursday during a press conference in Washington, DC, which evaluated 197 countries.

The Kingdom excelled across all sub-indicators, earning a 99.64 percent overall score and placing it in the “Very Advanced” category.

It achieved a score of 99.92 percent in the Core Government Systems Index, 99.90 percent in the Public Service Delivery Index, 99.30 percent in the Digital Citizen Engagement Index, and 99.50 percent in the Government Digital Transformation Enablers Index, reflecting some of the highest global scores.

This includes outstanding performance in digital infrastructure, core government systems, digital service delivery, and citizen engagement, among the highest globally.

Ahmed bin Mohammed Al-Suwaiyan, governor of the Digital Government Authority, attributed this achievement to the unwavering support of the Saudi leadership, strong intergovernmental collaboration, and effective public-private partnerships.

He highlighted national efforts over recent years to re-engineer government services and build an advanced digital infrastructure, which enabled Saudi Arabia to reach this global standing.

Al-Suwaiyan emphasized that the Digital Government Authority continues to drive innovation and enhance the quality of digital services, in line with Saudi Vision 2030, supporting the national economy and consolidating the Kingdom’s transformation goals.

The 2025 GTMI data reflects Saudi Arabia’s excellence across key areas, including near-perfect scores in core government systems, public service delivery, digital citizen engagement, and government digital transformation enablers. This balanced performance places the Kingdom firmly in the “Grade A” classification for very advanced countries, demonstrating the maturity of its digital government ecosystem.

Saudi Arabia’s progress in the index has been remarkable: from 49th place in the 2020 edition, to third in 2022, and now second in 2025, confirming its status as a global leader in digital transformation and innovation.

The achievement also reflects the Kingdom’s focus on putting people at the center of digital transformation, enhancing user experience, improving government efficiency, and integrating artificial intelligence and emerging technologies across public services.