Cigna Worldwide Insurance Company granted license in Saudi Arabia

Cigna Worldwide Insurance Company, a subsidiary of the US-based Cigna Group, has been granted a license by the Saudi Arabian Central Bank (SAMA) to operate in the Kingdom. This is the first branch of a foreign health insurance company to enter the Saudi market.

SAMA's decision is consistent with the "Saudi Vision 2030" development plan, which aims to support financial stability and contribute to national economic growth.

The regulator also seeks to encourage foreign direct investment to increase competitiveness in the Saudi insurance sector.