Magazine date:
Nov 2017 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 | |||
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% |
(2) Growth rate in local currency
(3) Saudi Riyal
(4) Former Saudi Indian Company for Cooperative Insurance
Top ten companies in 2016
(1) 24 companiesThe 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 | ||
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% |
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 |
0.26665 | 0.26674 |
