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Saudi insurance sector's growth to remain tepid: Report

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A report by Saudi Arabia-based securities broker Al Rajhi Capital Co. has concluded that the country's insurance industry will see tepid growth or even retrenchment in the short to medium term, Asia Insurance Review reported. "Previous data from insurers show inconsistent earnings distribution, high sensitivity to premium rates, the likelihood of regime change and the impact of interest rate increases from the U.S. Federal Reserve compared to Saudi banks," the report added.

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