The Economic Growth Forum (EGF), organized by the Financial Academy yesterday, discussed ways to develop the insurance sector in general and health insurance in particular. The EGF underscored the role of the Saudi Central Bank in stimulating mergers and acquisitions in the insurance sector to improve the competitive environment, revealing the size of the insurance market in the Kingdom, which is estimated at SAR40 billion in 2020, and the rate of localization in the sector reached about 75%. On the other hand, the health insurance sector contributed to increasing investment in the health sector, as the number of private hospitals reached 160 hospitals in the Kingdom. It is noteworthy that organizing the EGF comes as an initiative of the Financial Academy, within its objectives aimed at promoting constructive dialogue, building effective strategic partnerships that serve the interests of the financial sector, and providing awareness programs for specialists and those interested in the sector, to discuss trends and challenges facing the financial sector.
