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A report by the Saudi Arabian Monetary Agency has said that the nation's insurance industry's net profits increased 10% year over year to 810 million Saudi riyals ($216 million) in 2015, reports Middle East Insurance Review.
Total premiums increased 19.7% to SAR 36.5 billion.
Nonlife insurance premiums, excluding health, grew 19% to SAR 16.5 billion, accounting for 45% of the total insurance market.
Vehicle insurance accounted for 30.8% of the total insurance market.
Total claims paid increased 20.7% to SAR 24.5 billion.