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Saudi Arabian primary insurers face consolidation pressure

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A report by Moody's Investors Service Inc. said that Saudi Arabia's primary insurers are facing increasing pressure for consolidation due to weaker profitability and intense competition in the first half, Middle East Insurance Review reported. "The sector also faces a likely increase in capital requirements that small to medium-sized insurers may struggle to meet from their own resources," an analyst at Moody's said.

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