Insurance companies in Saudi Arabia: ranking

In thousands

RankCompanies2022 turnover2021 turnover2021-2022 evolution (1)2022 shares
SARUSDSARUSD
1Tawuniya14 349 6203 821 30410 218 6062 721 21540.43%26.89%
2Bupa Arabia13 896 8833 700 74011 382 1943 031 07822.09%26.05%
3Al Rajhi Takaful3 470 070924 0802 759 590734 87925.75%6.50%
4Medgulf2 854 602760 1812 236 222595 50627.65%5.35%
5Walaa (2)2 641 932703 5462 338 834622 83112.96%4.95%
6Gulf Insurance Group (3)1 567 251417 3591 454 470387 3257.75%2.94%
7Al Etihad Cooperative1 176 701313 356865 478230 47735.96%2.21%
8Arabian Shield (4)1 106 285294 604558 166148 64098.20%2.07%
9Wataniya Insurance1 042 418277 596902 100240 22915.55%1.95%
10SAICO1 039 423276 798777 538207 05833.68%1.95%
11Malath Insurance944 376251 487942 107250 8830.24%1.77%
12Allianz Saudi Fransi848 255225 890763 115203 21811.16%1.59%
13ACIG830 694221 214592 588157 80640.18%1.56%
14UCA821 844218 857409 756109 118100.57%1.54%
15Salama792 108210 938467 531124 50469.42%1.49%
16Arabia Insurance Cooperative733 193195 249422 323112 46573.61%1.37%
17Gulf Union Al Ahlia Cooperative Insurance548 431146 047572 523152 463-4.21%1.03%
18Al Sagr Cooperative475 264126 563438 300116 7198.43%0.89%
19Al Alamiya455 162121 210263 37070 13572.82%0.85%
20Alimna Tokio Marine438 585116 795305 55481 36943.54%0.82%
21Aljazira Takaful Taawuni415 621110 680299 03179 63238.99%0.78%
22Gulf General373 29399 408296 75179 02525.79%0.70%
23Buruj Insurance368 83998 222290 71277 41726.87%0.69%
24Chubb Arabia303 67780 869290 58277 3824.51%0.57%
25Amana Cooperative230 51561 386275 48773 362-16.32%0.43%
26Saudi Enaya227 47460 576218 50258 1874.11%0.43%
Total companies51 952 51613 834 95540 341 43010 742 92328.78%97.37%
Total market53 356 20014 208 75642 030 50011 192 72226.95%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

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