RIYADH: The share of Saudi employees in the Kingdom’s insurance sector has hit 77 percent, according to Loay Nazer, chairman of Bupa Arabia.
Speaking at the Saudi Insurance Symposium in Riyadh on Sept. 28, Nazer said the insurance sector has created 17,000 jobs in the Kingdom, while Bupa’s market size has reached SR42 billion ($11.16 billion) since its launch 18 years back.
Saudi Arabia launched the ‘Saudization’ labor market strategy to enhance the economic participation of its citizens, with the aim of reaching 60 percent by 2030.
Nazer pointed out that Saudi Central Bank’s cooperation has helped elevate Saudization in the executive category of the insurance sector from 90 to 95 percent.
Nazer added that Bupa was the first in the Kingdom to introduce a 24/7 call center for customers around 17 years ago.
The Saudi Insurance Symposium is one of the largest forums for insurance companies across the Middle East.
The event will be conducted from Sept. 28 to 29, with more than 1,000 insurance specialists, local officials, international managers and executives gathering to discuss developments in the sector.
