In accordance with the authority vested in the Insurance
Authority (IA) under the provision of the Insurance Authority
Law - issued by Royal Decree No. (M / 32) dated 2/6/1424 AH,
and the provisions of the Cooperative Insurance Companies
Control Law - issued By Royal Decree No. (M / 32) dated
2/6/1424 AH, which refers that IA shall carry out the
regulation of insurance companies and licensing.
Types of licenses:
- Insurance and/or Reinsurance.
- Branches of Foreign Insurance and/or Reinsurance Companies.
- Insurance Intermediaries (Insurance broker, Reinsurance Broker, and Insurance Agent).
- Insurance Aggregation.
- Insurance Service Providers (Insurance Consulting, Loss Adjusting and Assessment, Insurance Claims Settlement, and Actuarial Services).