Sales jobs in the insurance sector will be localised in Saudi Arabia from April 15, 2024

With effect from April 15, 2024, Saudi Arabia has decided to localise sales positions in the insurance industry. Starting in the middle of April, the Insurance Authority decided to Saudize all positions involving the marketing of insurance goods.

According to the ruling, insurance employees who work in non-sales roles are not allowed to take any commissions from sales. From the date of the decision's issue until the desired Saudization % is attained, the Insurance Authority will monitor the decision's implementation. This is under the purview of the authority's oversight and supervisory responsibilities for the insurance industry.

It is anticipated that the decision to localise the sales industry would have a big effect on both the industry and the Kingdom's overall rates of Saudization. This will enhance overall performance and elevate the calibre of services rendered, in addition to fostering the development of specific national capabilities relevant to the insurance industry.

The decision was made by the recently established Insurance Authority in an effort to empower and promote national skills and capabilities in the insurance industry as well as to support and enhance the efficacy of the insurance sector. This is based on the qualifications and authority assigned to the body in charge of policing, overseeing, and managing the insurance industry in the Kingdom.