Insurance technology and digital insurance
MedGulf’s chief executive put Saudi insurers’ investment portfolios at about SAR 60 billion, double the level of four years ago, at an Asharqia Chamber workshop. He also cited a 2% sector margin. The figure is a briefing, not an official asset tally.
Brokers told Reuters in September 2026 that Saudi Re had entered cyber risk retrocession. The company did not comment and published no capacity figure. Five to ten reinsurers are expected into that layer this year as cyber retro stays scarce.
mylo and AXA Egypt signed a group credit life insurance programme on 23 September 2026. Eligible balances can be settled on death or permanent total disability, with no extra installment. Terms, limits and who pays the premium were not published.
Customer-facing AI is the visible part of insurance technology and the least valuable. The money in a Saudi insurer sits in claims handling, fraud detection and pricing, and that is where the regulator has been opening space.
Bahrain-based insurtech Soor has secured a pre-seed investment from Spring, the venture studio backed by Salica and Al Waha Fund of Funds. Its app lets users compare and buy insurance from multiple providers in under a minute, tackling a fragmented market.
Abu Dhabi's Soter Insure has closed the first tranche of a Series B led by Galaxy Digital, bringing total funding to 23.5 million dollars plus 500 Bitcoin and 2,000 Ethereum. The unusual crypto-denominated raise signals what it is, an insurer built for risks mainstream firms refuse to cover.
Bupa Arabia, the Kingdom's largest health insurer, grew revenue strongly in the first half of 2026, with combined net profit of around 694 million riyals. The top-line growth is real, but investment income is doing more of the heavy lifting as medical inflation squeezes underwriting.
Saudi Reinsurance Company Reada has acquired a 22.5 percent stake in UK based AdA Risk Holding. The deal provides access to Lloyd's of London syndicate operations. This supports Reada's global expansion and diversification strategy.
EYST Technology has secured a six-figure investment from 216 Capital to scale its insurtech platform that replaces delayed reimbursements with instant virtual payment cards issued at the moment a claim is approved.