Riyadh – Mubasher: The solvency margin rate of Saudi insurance companies has surged by 177.2% year-on-year (YoY) during the third quarter (Q3) of 2021, according to a report by the Saudi Central Bank (SAMA).

The insurance sector registered investments worth SAR 283 million in Q3-21, rising by 21.5% from SAR 233 million in Q3-20.

On the other hand, the official data showed a plunge of 96.5% in the net income of the Saudi insurance firms to SAR 10 million in Q3-21 from SAR 295 million in Q3-20.