Saudi Arabia Central Bank Licenses 2 New Insurance Aggregation Companies20. September 2023
The Saudi Central Bank (SAMA) licensed “Al-tizam for electronic insurance brokerage” and “Altheqa Insurance Brokers” to provide insurance aggregation services (soft launch). With Al-tizam and Altheqa, there will be five authorized insurance aggregation companies operating in Saudi Arabia.
This decision reflects SAMA’s endeavor to support the insurance sector, increase its financial efficiency, and promote innovative insurance services for financial inclusion in Saudi Arabia.
SAMA emphasizes the importance of dealing exclusively with authorized financial institutions. To view licensed and permitted financial institutions, visit SAMA’s official website.
Featured image credit: Edited from Unsplash