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Saudi insurance sector poised for increased M&A activity in 2021: analysts
19/02/2021
Argaam Special
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by Parag Deulgaonkar
Saudi Arabia’s insurance market is set to witness consolidation, with mergers and acquisitions (M&As) gaining pace during the year, according to analysts.
 
“We expect continued M&As in the insurance sector. However, given the pandemic is still ongoing, we consider that some potential M&A activity could take more time to complete,” Panagiotis Toskas, Associate Director – Insurance, Fitch Ratings, told
Argaam.
 
In January, the Saudi Central Bank (SAMA) reiterated the need for insurance companies to look at M&A deals since the sector is a key driver of the Kingdom’s economy and a pillar of the Financial Sector Development Program. ....

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