Sager Abdullatif Nadershah, CEO of AlJazira Takaful Taawuni Co.
The motor insurance sector in Saudi Arabia recorded losses of SAR 479 million during the first nine months of 2025, against profits of SAR 700 million in the same period of 2024, CEO of AlJazira Takaful Taawuni Co., Sager Abdullatif Nadershah stated.
Speaking to Al Ekhbariya TV, Nadershah said many insurers incurred losses as they were unable to cope with the very high volume of claims.
He explained that companies realized pricing was inaccurate and started to reprice policies, tighten fraud controls, and strengthen claim verification processes.
Nadershah noted that the Saudi insurance sector still offers significant opportunities, with the market expected to double over the next five years.
Sager Abdullatif Nadershah, CEO of AlJazira Takaful Taawuni Co.
The motor insurance sector in Saudi Arabia recorded losses of SAR 479 million during the first nine months of 2025, against profits of SAR 700 million in the same period of 2024, CEO of AlJazira Takaful Taawuni Co., Sager Abdullatif Nadershah stated.
Speaking to Al Ekhbariya TV, Nadershah said many insurers incurred losses as they were unable to cope with the very high volume of claims.
He explained that companies realized pricing was inaccurate and started to reprice policies, tighten fraud controls, and strengthen claim verification processes.
Nadershah noted that the Saudi insurance sector still offers significant opportunities, with the market expected to double over the next five years.
