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Insurance industry in GCC countries almost tripled through 2006-13: Moody's

July 9, 2014 - 6:00am

The insurance market in Saudi Arabia and Gulf countries nearly tripled from 2006 to 2013, with premiums rising from $6.4 billion to $18.4 billion, Moody's Investors Service Inc. said in a report.

Moody’s said increasing compulsory insurance covers has helped boost market awareness, Arab News reported.

Moody’s added that new regulatory changes will enhance the credit profile of the Gulf Cooperation Council region's insurance industry.

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