Riyadh: The Insurance Authority (IA) today organized an extensive meeting with leaders and employees from the insurance sector to outline the details, objectives, and implementation phases of the National Insurance Sector Strategy for the upcoming years. This strategic initiative is designed to align with the Kingdom's leadership aspirations and the ambitious goals of Saudi Vision 2030.
According to Saudi Press Agency, the strategy aims to achieve three primary objectives: enhancing insurance protection for both individuals and the business sector, developing a sustainable and effective insurance market, and enabling insurance coverage for national risks. Chairman of the IA Board of Directors, Abdulaziz Al-Bouq, emphasized that the authority has crafted a national strategy intended to leverage the sector's strengths and transform it into one of the most rapidly growing and advanced insurance markets globally.
Al-Bouq further explained that the insurance sector is poised to undergo a significant transformation, establishing insurance as a crucial pillar of the Saudi economy. During the meeting, he responded to inquiries from sector leaders and employees, stressing the importance of the insurance sector in supporting comprehensive developmental pathways. He highlighted the sector's contribution as a vital enabler of economic growth and its role in enhancing financial stability, which ultimately improves the quality of life for society's members.