Saudi Arabia is exploring the possibility of scrapping insurance approvals for health insurance services in the country.

According to a report from Saudi Gazette, the Saudi Insurance Authority, along with relevant entities and specialists, is conducting a study regarding the removal of insurance approvals for health insurance services.

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“This study aims to eliminate beneficiaries from the process that connects hospitals and healthcare providers to insurance companies operating in the Kingdom, which causes harm to beneficiaries due to delayed approvals,” Eng. Naji Al Tamimi, CEO of the Saudi Insurance Authority, told Al-Riyadh newspaper.

Al Tamimi also revealed that the authority received over 400,000 complaints against insurance companies in 2024. The complaint closure rate increased to over 99 per cent, with the satisfaction rate exceeding 95 per cent.

However, concerns have been raised about potential excesses and wastage related to healthcare costs, which could negatively impact insurance prices if approvals are scrapped. The authority has assured that careful study will guide the decision, ensuring it is made in the best interests of the beneficiaries.

Performance indicators for insurance companies will be published, including the percentage of complaints relative to individual beneficiaries, as well as health and vehicle insurance policies for each company.

This initiative is aimed at encouraging companies to improve service quality and enhance customer satisfaction.

Bupa Arabia launches initiative to scrap medical approvals

Following discussions on scrapping insurance approvals by Saudi authorities, Bupa Arabia has launched a new initiative allowing members to receive treatment directly, without the need to submit or wait for prior medical approvals.

This initiative makes healthcare visits easier for individuals by enhancing the overall experience for insured members in the country.

This move by Bupa Arabia is the first of its kind in Saudi Arabia’s health insurance sector, designed to provide a seamless, hassle-free healthcare experience and quicker access to medical care.

“This initiative transforms the way healthcare is delivered to our members by removing the need for prior approvals, ensuring a faster and more comfortable experience. It’s an unprecedented achievement in Saudi Arabia’s health insurance sector, and we are proud to be the first to introduce such an innovative model”, Eng. Ryyan Tarabzoni, Chief Operating Officer at Bupa Arabia, said commenting on this achievement.

How is it a new concept in the healthcare industry?

This initiative will mark a significant milestone in the healthcare industry as it:

• Eliminates the need for submitting or waiting for prior medical approvals for outpatient treatment at participating hospitals.
• Simplifies and streamlines the process for members at medical and healthcare facilities.

Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, and Chairman of the Dubai Judicial Council, has approved the 2025-2029 strategic plan for Dubai Courts.

The plan is aimed at driving judicial innovation and reinforcing Dubai’s global legal standing.

Sheikh Maktoum emphasised that the strategy will develop an innovative judicial system that adapts to global trends and future demands, ensuring swift justice and upholding the rule of law.

He commended the Dubai Courts team for their efforts in formulating the plan, highlighting the necessity of continuous improvement and enhanced service quality through the adoption of cutting-edge technologies and artificial intelligence (AI).

“The new strategy will reinforce Dubai’s leadership by streamlining litigation processes, enhancing court ruling enforcement, and expanding alternative dispute resolution mechanisms. It will also strengthen Dubai’s appeal as a preferred hub for legal solutions,” Sheikh Maktoum said.

Key pillars of the Dubai Courts strategic plan

The Dubai Courts’ 2025-2029 strategy is based on the principles of judicial leadership, efficiency, and transparency. It focuses on upholding the rule of law and building public trust in the judiciary as essential to societal stability. The plan is structured around four core objectives:

1. Pioneering judicial performance: Optimising case preparation, improving adjudication efficiency, and refining enforcement procedures.

2. Integrated judicial services: Enhancing customer experience, promoting alternative dispute resolution, and fostering strategic partnerships.

3. Future-ready institutional capabilities: Attracting and developing specialised judicial and administrative talent while promoting innovation and sustainable governance.

4. Advanced digital judicial system: Leveraging AI and emerging technologies to improve data utilisation and judicial efficiency.

The strategic framework is underpinned by three strategic impact indicators, 27 performance indicators, and 42 initiatives and projects.

Adapting to global challenges

Professor Saif Ghanem Al Suwaidi, director-general of Dubai Courts, said it was important for Dubai’s judicial system to remain at the forefront of global advancements.

“The world is undergoing rapid transformation, and judicial institutions must evolve to address emerging challenges. Dubai Courts has developed this strategic plan to ensure a responsive and future-ready judicial system,” Al Suwaidi said.

He noted that the plan was the result of a year-long effort focused on integrating legislative and technological solutions to enhance the judicial framework. “We are committed to investing in AI and modern technologies to improve judicial performance and provide swift and flexible justice,” he added.

Al Suwaidi reiterated that judicial innovation is an ongoing process, crucial for meeting societal aspirations and demands. “This strategy is a significant milestone in Dubai’s pursuit of global judicial excellence. It places a responsibility on us to continuously enhance the standing of Dubai Courts internationally,” he said.

EVIQ, a leading force in Saudi Arabia’s electric vehicle infrastructure sector, has inaugurated its first highway charging station at SASCO Aljazeera, its located on the vital Riyadh-Qassim highway.

This launch marked a significant step in the wider regional effort to promote sustainable transportation.

It aims to overcome the challenges of long-distance travel for EV users and is expected to significantly boost the adoption of electric vehicles in the country, embracing the sustainable energy solutions.

EVIQ’s initiative for the future

This milestone is the beginning of EVIQ’s extensive highway charging network across Saudi Arabia. They are committed to delivering advanced charging solutions, with over 5,000 fast chargers by 2030, to facilitate the Kingdom’s sustainability vision through reliable, accessible, and high-performing charging solutions.

Commenting on this milestone,Mohammed Bakr Gazzaz, CEO of EVIQ, said: “The inauguration of our first highway EV charging hub at SASCO Aljazeera on RYD-QSM highway represents a pivotal moment in the development of a robust and interconnected charging network across Saudi Arabia.”

Gazzaz said this initiative is key to supporting the Kingdom’s transition towards sustainable transportation by ensuring EV drivers have access to efficient charging infrastructure along crucial highways.

“It also reflects EVIQ’s commitment to fostering a greener, more energy-efficient future in line with national sustainability goals. Our ongoing expansion for this year will include another two upcoming highway routes, which are: Riyadh-Dammam, and Mecca-Madinah, in addition to our plans for further expansion on the Riyadh-Qassim route,” said Gazzaz.

Key collaboration

SASCO’s strategic partnership in this EV charging initiative marks a significant advancement for Saudi Arabia’s roadside infrastructure.

By incorporating EVIQ’s charging solutions into their extensive service station network, SASCO is actively shaping the future of travel.

This collaboration reflects as a dedication to modernising travel experiences and promoting eco-friendly transportation choices.

To further elaborate this point, Riyadh Almalik, CEO of SASCO, added: “At SASCO, we are committed to evolving our services to meet the changing needs of travelers in Saudi Arabia. The introduction of EV charging stations at our locations is a significant step in supporting the Kingdom’s sustainability goals and providing innovative solutions for motorists.”

He went further to explain the importance of the partnership.

“Our partnership with EVIQ enables us to offer seamless and convenient charging options, ensuring that EV drivers have access to reliable infrastructure as they travel across the country. We look forward to expanding this initiative to more SASCO locations, reinforcing our role as a key enabler of Saudi Arabia’s transition to electric mobility,” he said.

Majid Al Futtaim has reported its financial results for 2024.

The company said it achieved a consolidated revenue of Dhs33.9bn, down 2 per cent, while EBITDA grew 1 per cent at Dhs4.6bn, through growth in key business areas across the portfolio and prudent financial discipline.

Despite tough circumstances, the group achieved a net profit of Dhs2.5bn, down 6 per cent year on year, a result of currency devaluation, anticipated tax changes and one-off items. However, excluding UAE corporate income tax, valuation gains and impairments, net profit was up 18 per cent.

While on a constant currency basis, EBITDA increased 3 per cent, and revenue grew by 1 per cent.

Within the group’s varied operating companies, revenues grew significantly in key divisions including Properties, Retail Digital and Lifestyle, while overall revenue in the UAE grew by 7 per cent, offsetting challenges in other operating companies and economic headwinds in certain markets.

The company also bolstered its financial position by increasing free cash flow by 270 per cent to Dhs2.8bn and cutting net debt by Dhs1bn, reinforcing its BBB credit rating with a stable outlook.

Growth across divisions

Majid Al Futtaim’s Properties division led growth, posting a 25 per cent increase in net revenue, fueled by strong demand for its malls and residential projects.

Net revenue grew by 25 per cent year-on-year to Dhs8.7bn and EBITDA increasing by 16 per cent to Dhs4.2bn.

The newly launched Ghaf Woods saw Phases 1 and 2 sell out in under a week, underscoring the appeal of the group’s community-driven developments.

Meanwhile, the Retail division initiated a turnaround strategy in Q3. Its brick-and-mortar business reported revenue at Dhs22.2bn and EBITDA at Dhs381m while its digital business achieved full-year EBITDA profitability.

Majid Al Futtaim’s shopping malls continued to thrive with leasing occupancy hitting 97 per cent and footfall remaining stable from record growth in 2023 across its 29 malls.

The newly optimised Hotels portfolio also performed well.

Majid Al Futtaim results reflect the group’s resilience, says CEO

Ahmed Galal Ismail, CEO of Majid Al Futtaim, said the results reflect the group’s resilience amid macroeconomic challenges and its commitment to long-term value creation.

“Despite geopolitical headwinds and higher corporate tax costs, we delivered strong financial performance, underscored by record free cash flow and robust growth across our key business segments,” he noted.

The company also made significant strides in sustainability, achieving a 13 per cent Emiratisation rate — earning the NAFIS award for the second consecutive year — and maintaining a low-risk ESG rating from Sustainalytics.

Majid Al Futtaim ended the year with total assets of Dhs68.8bn, with net debt to equity improving to 41 per cent, reinforcing its position as one of the region’s most financially resilient conglomerates.