Proposed capital requirement could drive consolidation

Posted On: Apr. 11, 2019 5:56 AM CST

Experts said that a proposed five-fold increase in minimum capital requirement for Saudi Arabian insurers is likely to drive consolidation in the sector, Middle East Insurance Review reported. The Saudi Arabian Monetary Authority is currently assessing plans to increase insurers' capital requirement to 500 million Saudi Arabian riyals ($133 million) from the current SAR 100 million.