Abstract
Effective corporate governance plays a critical role in managing risks and aligning stakeholder interests within the Saudi Arabian insurance sector. Despite significant progress since the 2006 financial crisis, challenges remain in aligning practices with international standards, particularly in board composition and shareholding. This study evaluates the relationship between corporate governance elements such as board composition and board shareholding and their impact on risk management in Saudi insurance companies. Using correlation and regression analyses, the study finds no significant relationship between board composition and risk management. Similarly, board shareholding showed no significant impact on risk outcomes. The study recommends enhancing regulatory standards to increase board diversity and independence, along with specialized training for risk management committees to effectively mitigate risks.
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