Top 10 best insurance companies in Saudi Arabia

No matter, if you are looking to get a car or health insurance, you should always look for one of the top and best companies in Saudi Arabia. Here is the list of the top 10 best insurance companies as per the market capitalization.

Bupa Arabia

Bupa Arabia Insurance Company is without any doubt the top and the best insurance company in Saudi Arabia. Bupa Arabia has the largest market share in healthcare insurance in Saudi Arabia.

 

Tawuniya

The company for cooperative insurance – Twuniya is without any doubt the second-best insurance company in Saudi Arabia. They have the biggest market share in car insurance.

  • Market Cap: SR 11.8 billion.
  • Revenue: SR 14 billion.
  • Tawuniya website.
  • Source: Tadawul.

Al Rajhi Takaful

Being associated with one of the largest financial groups in Saudi Arabia obviously provides Al Rajhi Takaful an additional advantage to secure the market share.

They have penetrated the market of auto insurance in Saudi Arabia and without any doubt one of the top 10 best insurance companies.

  • Market Cap: SR 3.9 billion.
  • Revenue: SR 3.5 billion.
  • Al Rajhi Takaful website.
  • Source: Tadawul.

Al Rajhi Takaful -Top 10 best insurance companies in Saudi Arabia

Gulf Insurance Group

Gulf Insurance Group which was previously known as AXA Cooperative Insurance Company is the 4th biggest insurance company in KSA.

  • Market Cap: SR 1.4 billion.
  • Revenue: SR 1.4 billion.
  • Gulf Insurance Group website.
  • Source: Tadawul.

Saudi Reinsurance Company

As the name suggests, Saudi Reinsurance is the first reinsurance company in Saudi Arabia, to offer comprehensive reinsurance solutions. In other words, they ensure the other insurance companies rather than directly insuring customers.

  • Market Cap: SR 1.1 billion.
  • Revenue: SR 1.3 billion.
  • Saudi Reinsurance website.
  • Source: Tadawul.

Walaa Cooperative Insurance

Walacooperative insurance is very active in vehicle insurance and travel insurance. At least I have not seen any of their health insurance product. Nevertheless, they are one of the top 10 best insurance companies in Saudi Arabia.

  • Market Cap: SR 1.1 billion.
  • Revenue: SR 2.3 billion.
  • Walaa Cooperative Insurance website.
  • Source: Tadawul.

Arabian Shield Insurance

Arabian Shield Insurance has the biggest market share in visit visa insurance (travel insurance). Their vehicle insurance products are also very good which adds them to a definitive list of the top 10 best insurance companies in Saudi Arabia.

Aljazira Takaful

AlJazira Takaful deals with all kinds of insurance but without a significant share in any one category as is evident from their financial highlights given below.

  • Market Cap: SR 892 million.
  • Revenue: SR 299 million.
  • Arabian Shield Insurance website.
  • Source: Tadawul.

Allianz Saudi Fransi Insurance

Allianz Saudi Fransi Cooperative Insurance is from the Saudi Fransi group which helps them get some big corporate clients.

They do not have a noticeable market share in the retail insurance sector. However, we still rank Allianz Saudi Fransi as one of the top 10 best insurance companies in Saudi Arabia.

  • Market Cap: SR 834 million.
  • Revenue: SR 763 million.
  • Allianz Saudi Fransi website.
  • Source: Tadawul.

MedGulf Insurance

MedGulf Insurance is well-recognized in the car insurance industry but it also provides Health, Property, and other insurance and reinsurance services.

  • Market Cap: SR 823 million.
  • Revenue: SR 2.2 billion.
  • MedGulf Insurance website.
  • Source: Tadawul.

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