As Part of Its Efforts to Empower National Talent, the Insurance Authority Hosts a Delegation of Students from KSU
The Insurance Authority welcomed a delegation of students from King Saud University to its headquarters in Riyadh as part of an introductory visit aimed at familiarizing them with the Authority's mandate, regulatory roles, and the legislative framework governing the insurance sector. The visit also included an overview of the components of an insurance contract, the requirements and procedures of insurance claims and disputes, as well as key types of insurance and their role in safeguarding individuals and businesses. In addition, students were briefed on the Authority's development programs designed to enhance market efficiency, strengthen transparency, and protect the rights of policyholders and beneficiaries.
The Insurance Authority's official spokesperson, Mr. Sultan bin Mohammed Al-Qahtani, explained that this visit reflects the Authority's ongoing efforts to promote insurance literacy among university students and graduates, empower national talent, and attract and prepare the next generation to join the insurance sector. These efforts, he noted, contribute to advancing financial and professional inclusion, and reinforcing principles of sustainability and governance. He added that the Authority views human-capital sustainability as a lasting competitive advantage for the insurance sector, emphasizing that the future of the industry in Saudi Arabia depends on the quality of its professionals and their deep understanding of the nature of insurance activities and the opportunities within the sector.
Throughout 2025, the Insurance Authority implemented several specialized development programs to equip national cadres and enhance their readiness for technical and professional roles in the insurance industry. Among the most notable initiatives was a training boot camp organized in partnership with the renowned Lloyd's Academy, with over 95 participants from insurance companies. The program included advanced sessions on underwriting, brokerage, claims management, and litigation, in addition to introducing participants to the operational mechanisms of the Lloyd's market.
The Authority also launched a scholarship program for master's degrees in actuarial science, insurance, and risk management in collaboration with Bayes Business School in the United Kingdom, offering national professionals in the sector internationally recognized professional credentials. Additionally, the Authority sponsored the Future Actuaries Connect initiative to support the development of a new generation of Saudi actuaries capable of shaping the sector's future.
It is worth noting that the Saudi insurance market currently provides more than 17,000 jobs, with a nationalization rate exceeding 85%. The number of professionals working in the sector is expected to double over the next five years in line with the Authority's strategic directions and the sector's growing ambitions and developments. These efforts aim to strengthen the alignment between national talent and emerging opportunities in the insurance industry and support the Financial Sector Development Program's objectives under Saudi Vision 2030.
The Authority notes that the decision to lift the suspension follows the company's implementation of the necessary measures to rectify the violations committed, and its compliance with the applicable regulatory standards and requirements. The Authority reaffirms its continued oversight of the company to ensure the sustainability of these corrective measures.