Insurance companies in Saudi Arabia: ranking

In thousands

Rank	Companies	2022 turnover		2021 turnover		2021-2022 evolution ⁽¹⁾	2022 shares
Rank	Companies	En SAR	En USD	En SAR	En USD	2021-2022 evolution ⁽¹⁾	2022 shares
1	Tawuniya	14 349 620	3 821 304	10 218 606	2 721 215	40.43%	26.89%
2	Bupa Arabia	13 896 883	3 700 740	11 382 194	3 031 078	22.09%	26.05%
3	Al Rajhi Takaful	3 470 070	924 080	2 759 590	734 879	25.75%	6.50%
4	Medgulf	2 854 602	760 181	2 236 222	595 506	27.65%	5.35%
5	Walaa ⁽²⁾	2 641 932	703 546	2 338 834	622 831	12.96%	4.95%
6	Gulf Insurance Group ⁽³⁾	1 567 251	417 359	1 454 470	387 325	7.75%	2.94%
7	Al Etihad Cooperative	1 176 701	313 356	865 478	230 477	35.96%	2.21%
8	Arabian Shield ⁽⁴⁾	1 106 285	294 604	558 166	148 640	98.20%	2.07%
9	Wataniya Insurance	1 042 418	277 596	902 100	240 229	15.55%	1.95%
10	SAICO	1 039 423	276 798	777 538	207 058	33.68%	1.95%
11	Malath Insurance	944 376	251 487	942 107	250 883	0.24%	1.77%
12	Allianz Saudi Fransi	848 255	225 890	763 115	203 218	11.16%	1.59%
13	ACIG	830 694	221 214	592 588	157 806	40.18%	1.56%
14	UCA	821 844	218 857	409 756	109 118	100.57%	1.54%
15	Salama	792 108	210 938	467 531	124 504	69.42%	1.49%
16	Arabia Insurance Cooperative	733 193	195 249	422 323	112 465	73.61%	1.37%
17	Gulf Union Al Ahlia Cooperative Insurance	548 431	146 047	572 523	152 463	-4.21%	1.03%
18	Al Sagr Cooperative	475 264	126 563	438 300	116 719	8.43%	0.89%
19	Al Alamiya	455 162	121 210	263 370	70 135	72.82%	0.85%
20	Alimna Tokio Marine	438 585	116 795	305 554	81 369	43.54%	0.82%
21	Aljazira Takaful Taawuni	415 621	110 680	299 031	79 632	38.99%	0.78%
22	Gulf General	373 293	99 408	296 751	79 025	25.79%	0.70%
23	Buruj Insurance	368 839	98 222	290 712	77 417	26.87%	0.69%
24	Chubb Arabia	303 677	80 869	290 582	77 382	4.51%	0.57%
25	Amana Cooperative	230 515	61 386	275 487	73 362	-16.32%	0.43%
26	Saudi Enaya	227 474	60 576	218 502	58 187	4.11%	0.43%
Total companies		51 952 516	13 834 955	40 341 430	10 742 923	28.78%	97.37%
Total market		53 356 200	14 208 756	42 030 500	11 192 722	26.95%	100%

⁽¹⁾ Growth rate in local currency
⁽²⁾ Merger with SABB Takaful
⁽³⁾ Formerly AXA Cooperative Insurance Company
⁽⁴⁾ Merger with Al Ahli Takaful
Sources : Rapports compagnies and www.sama.gov.sa
Exchange rate as of 12/31/2022: 1 SAR = 0.2663 USD ; 31/12/2021: 1 SAR = 0.2663 USD

Insurance companies in Saudi Arabia: ranking

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