Top 30 insurance companies in Saudi Arabia: ranking 2019

Magazine Issue:

Magazine date:

Jun 2020

In thousands

Rank 2019	Companies	2019 turnover		2018-2019 evolution ⁽¹⁾	2019 shares
Rank 2019	Companies	In SAR	In USD	2018-2019 evolution ⁽¹⁾	2019 shares
1	Bupa Arabia	10 410 870	2 772 520	28.19%	27.48%
2	Tawuniya	8 375 860	2 230 580	22.68%	22.11%
3	AlRajhi Takaful	2 569 800	684 370	6.96%	6.78%
4	Medgulf	2 421 280	644 810	6.56%	6.39%
5	AXA Cooperative	1 409 780	375 440	3.82%	3.72%
6	Walaa	1 215 390	323 670	3.29%	3.21%
7	Allianz Saudi Franzi	1 011 670	269 420	2.74%	2.67%
8	Al Etihad (Ex. Trade Union)	861 940	229 540	2.33%	2.28%
9	Malath Insurance	835 240	222 430	2.26%	2.20%
10	SAICO	834 340	222 190	2.26%	2.20%
11	Wataniya	735 040	195 750	1.99%	1.94%
12	Gulf Union	558 800	148 810	1.51%	1.47%
13	Arabian Shield	543 720	144 800	1.47%	1.43%
14	ACIG	529 350	140 970	1.43%	1.40%
15	Salama	503 500	134 090	1.36%	1.33%
16	Sagr Cooperative	455 700	121 360	1.23%	1.20%
17	UCA	420 290	111 930	1.14%	1.11%
18	Saudi Solidarity Takaful	391 020	104 130	1.06%	1.03%
19	Arabia Insurance Cooperative	332 420	88 530	0.90%	0.88%
20	Alimna Tokio Marine	331 140	88 190	0.90%	0.87%
21	Buruj	305 540	81 370	0.83%	0.81%
22	Gulf General	279 690	74 480	0.76%	0.74%
23	Chubb Arabia	258 220	68 770	0.70%	0.68%
24	Amana Cooperative	248 050	66 060	0.67%	0.65%
25	Ahli Takaful	238 840	63 610	0.65%	0.63%
26	Alamiya (RSA)	219 940	58 570	0.60%	0.58%
27	Ahlia Cooperative	192 250	51 200	0.52%	0.51%
28	Sabb Takaful	155 150	41 320	0.42%	0.41%
29	Saudi Enaya	154 030	41 020	0.42%	0.41%
30	Al Jazirah Takaful	130 280	34 700	0.35%	0.34%
Total top 30 insurers		36 929 140	9 834 630	8.57%	97.46%
Rest of the market ⁽²⁾		961 360	255 970	-3.85%	2.54%
Grand total		37 890 500	10 090 600	8.21%	100%

⁽¹⁾ Growth rate in local currency
⁽²⁾ Two companies
Exchange rate as at 31/12/2019 : 1 SAR = 0.26631 USD ; at 31/12/2018 : 1 SAR = 0.26621 USD
Sources: Companies’reports, Saudi Arabian Monetary Authority and tadawul.com.sa