The Saudi Arabia insurance market: turnover 2016

The Saudi Arabia insurance market: 2016 ranking of insurers per turnover ⁽¹⁾

in thousands

	2016 turnover		2015 turnover		2016 shares	2015-2016 evolution⁽³⁾
	In SAR⁽²⁾	In USD	In SAR⁽²⁾	In USD	2016 shares	2015-2016 evolution⁽³⁾
Tawuniya	8 055 135	2 148 627	7 545 268	2 011 946	22.5%	6.8%
Bupa Arabia	7 938 630	2 117 550	7 328 016	1 954 015	22.2%	8.3%
Medgulf	3 194 334	852 057	4 001 934	1 067 116	8.9%	-20.2%
Malath Insurance	2 167 856	578 254	1 863 478	496 896	6.1%	16.3%
Al Rajhi Takaful	1 948 650	519 783	1 361 890	363 148	5.4%	43.1%
AXA Cooperative	1 153 974	307 811	1 128 176	300 828	3.2%	2.3%
Walaa	1 016 608	271 170	752 993	200 786	2.8%	35.0%
Trade Union	954 483	254 599	845 982	225 581	2.7%	12.8%
Allianz Saudi Franzi	836 272	223 067	803 213	214 177	2.4%	4.1%
United Cooperative Assurance (UCA)	819 595	218 619	1 271 736	339 108	2.3%	-35.6%
SAICO	801 806	213 874	888 221	236 844	2.2%	-9.7%
Arabian Shield	754 470	201 247	531 176	141 638	2.1%	42.0%
Salama	571 353	152 403	391 740	104 457	1.6%	45.9%
WAFA Insurance⁽⁴⁾	550 807	146 922	521 698	139 111	1.5%	5.6%
Allied Cooperative Insurance Group (ACIG)	510 618	136 202	549 441	146 508	1.4%	-7.1%
Wataniya	507 708	135 426	518 709	138 314	1.4%	-2.1%
Buruj	437 565	116 716	446 993	119 191	1.2%	-2.1%
Arabia Insurance Cooperative (AICC)	419 101	111 791	653 947	174 375	1.2%	-35.9%
ATC Alahli Takaful	356 279	95 034	361 048	96 273	1.0%	-1.3%
Alinma Tokio M	321 888	85 860	220 357	58 758	0.9%	46.1%
Al Alamiya	310 751	82 890	402 032	107 202	0.9%	-22.7%
Gulf Union	277 376	73 987	224 925	59 976	0.8%	23.3%
Solidarity	262 447	70 005	303 406	80 903	0.7%	-13.5%
Gulf General	255 152	68 059	351 946	93 846	0.7%	-27.5%
SABB Takaful	217 464	58 006	228 595	60 955	0.6%	-4.9%
Chubb Arabia Cooperative Insurance	214 837	57 306	268 746	71 661	0.6%	-20.1%
Metlife AIG ANB	208 090	55 506	144 741	38 595	0.6%	43.8%
Sagr Insurance	176 014	46 950	863 838	230 342	0.5%	-79.6%
Amana Insurance	169 866	45 310	414 019	110 398	0.5%	-59.0%
Al-Ahlia Insurance	167 142	44 583	259 662	69 239	0.5%	-35.6%
Saudi Enaya	128 825	34 363	70 933	18 914	0.4%	81.6%
Al Jazira Takaful Taawuni	76 166	20 317	71 148	18 972	0.2%	7.1%
Sanad	126	34	48	13	0.0%	162.5%
Weqaya Takaful	-	-	2 419	645	0.0%	-100.0%
Total	35 781 388	9 544 327	35 592 474	9 490 733	100.0%	0.5%

⁽¹⁾ this ranking does not include the premiums of Weqaya Takaful whose activities were suspended during 2015
⁽²⁾ Growth rate in local currency
⁽³⁾ Saudi Riyal
⁽⁴⁾ Former Saudi Indian Company for Cooperative Insurance

Top ten companies in 2016

⁽¹⁾ 24 companies

The Saudi Arabia insurance market: turnover breakdown per class of business (2015-2016)

in thousands

	2015 turnover		2016 turnover		2016 shares
	In SAR⁽¹⁾	In USD	In SAR⁽¹⁾	In USD	2016 shares
Aviation	147 000	39 198	140 000	37 344	0.4%
Energy	563 000	150 124	458 000	122 167	1.2%
Accident and third party liability	1 093 000	291 448	1 050 000	280 077	2.8%
Marine	726 000	193 588	634 000	169 113	1.7%
protection & savings	1 036 000	276 249	1 051 000	280 344	2.9%
Engineering	1 204 000	321 047	908 000	242 200	2.5%
Fire and property damage	1 962 000	523 167	1 826 000	487 067	5.0%
Motor	10 799 000	2 879 553	12 158 000	3 243 025	33.0%
Health	18 967 000	5 057 551	18 630 000	4 969 366	50.5%
Total	36 497 000	9 731 925	36 855 000	9 830 703	100.0%

⁽¹⁾ Saudi Riyal

Market shares per class of business in 2016

Source: Saudi Arabia Stock Exchange(Tadawul), Saudi Arabia Monetary Authority(SAMA)

Exchange rate SAR/USD as at 31/12	2015	2016
Exchange rate SAR/USD as at 31/12	0.26665	0.26674

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Fri, 08/12/2017 - 14:47

The Saudi Arabia insurance market: turnover 2016

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The Saudi Arabia insurance market: turnover breakdown per class of business (2015-2016)

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The Saudi Arabia insurance market: 2016 ranking of insurers per turnover ⁽¹⁾