The study aims to identify the determinants of profitability in Saudi insurance companies. For this purpose, the data were collected about the study variables (company size, debt ratio, loss ratio, retention ratio, investment income) as independent variables. To measure its impact on the profitability of insurance companies, expressed as return on assets (ROA) and return on equity (ROE). Using Panel Data for 25 insurance companies in Saudi Arabia during (2010-2016), the random-effects model (REM) was used to examine the relationship between the profitability of insurance companies and the independent variables. The study concluded that the profitability of insurance companies is significantly associated with the size of the insurance company, debt ratio, and the rate of actual loss. The results also showed that the volume of written premiums is the most influential variable on the profitability of insurance companies, followed by the indebtedness rate and then the actual loss.