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- Title
A review of corporate governance in the Saudi Arabian insurance sector.
- Authors
Alsuyayfi, Shanar Shafi; Said, Rasidah Mohd; Ja'afar, Roslan; Albada, Ali
- Abstract
This research aims to highlight the gaps in literature on corporate governance and risk management, and their impact on organisational performance in Saudi Arabia, specifically in the insurance sector. Existing studies that measure such relationships are limited. Moreover, the literature has revealed several constraints in the Saudi Arabian corporate governance environment that exacerbate the challenge associated with regulatory set-up, compliance and the detection of any changes in corporate governance procedures. Considering the great importance of the insurance sector in the Saudi economy, and the important role of corporate governance in regulating the insurance business, the study proposes that policy makers and regulators develop policies and regulations that would ensure that firms implement appropriate risk management strategies to improve the performance of the insurance industry in Saudi Arabia. Finally, the policy makers should focus on strengthening Takaful insurance because it has much potential due to its risk-averse characteristics.
- Subjects
SAUDI Arabia; INSURANCE companies; CORPORATE governance; BUSINESS insurance; BUSINESS continuity planning; TAKAFUL; FINANCIAL performance; DEPOSIT insurance
- Publication
Journal of Risk Management in Financial Institutions, 2023, Vol 16, Issue 3, p293
- ISSN
1752-8887
- Publication type
Article