The role of enterprise risk management in enhancing the sustainability of Saudi insurance companies under vision 2030

Abstract

This study explores the role of Enterprise Risk Management (ERM) in enhancing corporate sustainability in Saudi insurance companies under the framework of Saudi Vision 2030. It examines how effective ERM implementation promotes long-term financial and operational sustainability, and how ERM maturity improves performance by mitigating underwriting and operational risks. The study further investigates the moderating effect of corporate governance in strengthening the relationship between ERM practices and organizational sustainability. A descriptive-analytical approach is adopted, combining a theoretical review with an empirical survey of professionals in the Saudi insurance sector. Findings are expected to demonstrate significant positive relationships between ERM implementation and financial sustainability, ERM maturity and operational performance, with corporate governance acting as a reinforcing mediator. By addressing the integrative link between ERM, governance, and sustainability, this research fills a critical gap in the literature and offers practical guidance for policymakers and corporate leaders to embed a risk-aware culture within strategic and operational frameworks, ensuring a balance between growth and long-term resilience.