1.0مكتب محمد الخليوي للمحاماةhttps://maalawsa.com/en/adminhttps://maalawsa.com/en/author/admin/rich600338<blockquote class="wp-embedded-content" data-secret="tmnCJGd1WU"><a href="https://maalawsa.com/en/insurance-licenses-in-saudi-arabia-en/">Insurance Licenses in Saudi Arabia: A Comprehensive Guide to License Types, Requirements, and Conditions</a></blockquote><iframe sandbox="allow-scripts" security="restricted" src="https://maalawsa.com/en/insurance-licenses-in-saudi-arabia-en/embed/#?secret=tmnCJGd1WU" width="600" height="338" title="“Insurance Licenses in Saudi Arabia: A Comprehensive Guide to License Types, Requirements, and Conditions” — مكتب محمد الخليوي للمحاماة" data-secret="tmnCJGd1WU" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe><script> /*! This file is auto-generated */ !function(d,l){"use strict";l.querySelector&&d.addEventListener&&"undefined"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!/[^a-zA-Z0-9]/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret="'+t.secret+'"]'),o=l.querySelectorAll('blockquote[data-secret="'+t.secret+'"]'),c=new RegExp("^https?:$","i"),i=0;i<o.length;i++)o[i].style.display="none";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute("style"),"height"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):"link"===t.message&&(r=new URL(s.getAttribute("src")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener("message",d.wp.receiveEmbedMessage,!1),l.addEventListener("DOMContentLoaded",function(){for(var e,t,s=l.querySelectorAll("iframe.wp-embedded-content"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute("data-secret"))||(t=Math.random().toString(36).substring(2,12),e.src+="#?secret="+t,e.setAttribute("data-secret",t)),e.contentWindow.postMessage({message:"ready",secret:t},"*")},!1)))}(window,document); //# sourceURL=https://maalawsa.com/wp-includes/js/wp-embed.min.js </script> https://maalawsa.com/wp-content/uploads/2026/05/image-24.png1000664The insurance sector in Saudi Arabia has undergone significant regulatory reforms, especially following the establishment of the Insurance Authority as an independent body responsible for overseeing and regulating the industry. These reforms aim to drive digital transformation, strengthen governance, and ensure the protection of stakeholders’ rights. In this article, we will explore the different types of insurance licenses available in the Kingdom, along with their requirements, conditions, and associated fees. Types of Insurance and Supporting Services Licenses The Insurance Authority in Saudi Arabia grants a variety of licenses designed to regulate and support entities operating within the insurance sector — including insurance companies, brokers, and supporting service providers. These licenses include: Insurance and/or Reinsurance Licenses Liberal professionals Licenses Cover individuals or entities offering one or more of the following activities: insurance brokerage, reinsurance brokerage, electronic insurance brokerage, insurance agency, inspection and loss assessment, insurance claims settlement, insurance consulting, and actuarial services. Conditions for Obtaining a License to Practice Insurance Business To obtain a license to engage in insurance activities in Saudi Arabia, applicants must meet a set of regulatory conditions established by the Insurance Authority. These conditions vary depending on the type of entity applying for the license: (1) Insurance or Reinsurance Companies The company must be established as a joint-stock company. Its primary purpose must be to conduct insurance and/or reinsurance business. The paid-up capital must not be less than SAR 300 million for insurance companies. Similarly, reinsurance companies—or companies practicing both insurance and reinsurance—must also maintain a paid-up capital of no less than SAR 300 million. The percentage of Saudi employees must comply with the minimum ratio required under the applicable regulations and must increase annually in accordance with the company’s approved business plan submitted to the Insurance Authority. (2) Liberal professions Related to Insurance or Reinsurance Liberal professions Related to Insurance or Reinsurance related to insurance or reinsurance must maintain a Saudi workforce of at least 50% by the end of the first year, or the percentage specified by the Authority, with a mandatory annual increase as per the submitted business plan. The company’s capital must not be less than the minimum amount stipulated in the Implementing Regulations. (3) Digital Insurance Brokerage The activity must be conducted by a joint-stock or limited liability company licensed to operate in Saudi Arabia. The company’s minimum capital must be: SAR 500,000 for entities engaged solely in digital insurance brokerage. SAR 3 million for traditional insurance brokers also practicing digital insurance brokerage. Requirements for Applying for a License to Practice Insurance Business Applicants seeking to obtain a license to conduct insurance business in Saudi Arabia must fulfill a set of fundamental requirements established by the Insurance Authority. These include: Additional Requirements Based on Applicant Type In addition to the general requirements, applicants must meet specific conditions depending on the nature of their business activity: (1) Insurance or Reinsurance Companies Five-Year Business Plan: A comprehensive plan outlining projected operations, financial forecasts, and growth strategy over a five-year period. Irrevocable Bank Guarantee: A guarantee equivalent to the required capital, issued in favor of the Insurance Authority by a local Saudi bank, and automatically renewable until the full capital amount has been paid. (2) Liberal professions Related to Insurance or Reinsurance Three-Year Business Plan: A detailed plan specifying the scope of operations, financial projections, and development goals for the first three years. Irrevocable Bank Guarantee: A guarantee equivalent to the required capital, issued in favor of the Insurance Authority by a local Saudi bank, and automatically renewable until the full capital amount has been paid. (3) Digital Insurance Brokerage The license application for digital insurance brokerage must be submitted to the Insurance Authority and include the following: Dedicated Business Plan for digital Operations: The plan must detail: The types of insurance products offered through the platform. An analysis of the expected transaction volume for electronic insurance brokerage activities over the next three years. An assessment of potential risks associated with online transactions, along with preventive and mitigation measures, including procedures to combat money laundering, address cyber and strategic risks, and ensure regulatory compliance. The applicant must submit a detailed contingency plan outlining the procedures to be followed in case of system failure. The plan should: Identify corrective actions to ensure business continuity. Include a reporting mechanism for notifying both the Insurance Authority and the company of system disruptions or corrective measures taken. Insurance License Fees Applicants are required to pay an initial fee of SAR 10,000 for the review of their license application. Upon approval, the following issuance fees apply depending on the license type: Insurance or Reinsurance Companies SAR 100,000 – for an insurance company. SAR 200,000 – for a reinsurance company. SAR 300,000 – for a company practicing both insurance and reinsurance. Liberal Professionals SAR 25,000 – for any self-employed professional, excluding actuaries and insurance consultants. SAR 5,000 – for actuaries or insurance consultants. Obtaining an insurance license in Saudi Arabia involves a detailed and highly regulated process. If you plan to apply for an insurance or reinsurance license, our legal team can guide you through every step — ensuring full compliance, efficiency, and a hassle-free experience. Disclaimer: This content is not legal advice. No liability is assumed. For legal consultation, please contact us.