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KPMG Saudi Arabia elects new board of directors chaired by Dr. Abdullah Al-Fozan

KPMG, a leading provider of audit, tax and advisory services, has announced the election of its new board of directors. The new board continues to be chaired by Dr. Abdullah Al-Fozan and further consists of Ebrahim Baeshen, Khalil Al-Sedais, Fuad Chapra, Muhammad Tariq, Khalid Yasin, Dr. Samer Abdallah, Ismail Alani and Fahad Aldossari. At the Ordinary General Assembly on May ....

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Saudi banking sector Q1 net profit increases 22.83pc

Saudi Arabia’s banking sector returned a sturdy industry performance, highlighting a year-on-year (YoY) increase in net profit by 22.83% in Q1 2022. ....

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Saudi insurance sector produces best ever results in 2020: KPMG

Saudi insurance sector produces best ever results in 2020: KPMG
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Customer-centricity, technology 'priorities for insurance CEOs'

Customer-centricity, technology 'priorities for insurance CEOs'
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Saudi insurance sector poised for increased M&A activity in 2021: analysts

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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