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No matter, if you are looking to get a car or health insurance, you should always look for one of the top and best companies in Saudi Arabia. Here is the list of the top 10 best insurance companies as per the market capitalization.
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Bupa Arabia
Bupa Arabia Insurance Company is without any doubt the top and the best insurance company in Saudi Arabia. Bupa Arabia has the largest market share in healthcare insurance in Saudi Arabia.
- How to download travel insurance from Bupa?
- Market Cap: SR 23.1 billion.
- Revenue: SR 14 billion.
- Bupa Arabia website.
- Source: Tadawul.
Tawuniya
The company for cooperative insurance – Twuniya is without any doubt the second-best insurance company in Saudi Arabia. They have the biggest market share in car insurance.
Al Rajhi Takaful
Being associated with one of the largest financial groups in Saudi Arabia obviously provides Al Rajhi Takaful an additional advantage to secure the market share.
They have penetrated the market of auto insurance in Saudi Arabia and without any doubt one of the top 10 best insurance companies.
Gulf Insurance Group
Gulf Insurance Group which was previously known as AXA Cooperative Insurance Company is the 4th biggest insurance company in KSA.
Saudi Reinsurance Company
As the name suggests, Saudi Reinsurance is the first reinsurance company in Saudi Arabia, to offer comprehensive reinsurance solutions. In other words, they ensure the other insurance companies rather than directly insuring customers.
Walaa Cooperative Insurance
Walacooperative insurance is very active in vehicle insurance and travel insurance. At least I have not seen any of their health insurance product. Nevertheless, they are one of the top 10 best insurance companies in Saudi Arabia.
- Market Cap: SR 1.1 billion.
- Revenue: SR 2.3 billion.
- Walaa Cooperative Insurance website.
- Source: Tadawul.
Arabian Shield Insurance
Arabian Shield Insurance has the biggest market share in visit visa insurance (travel insurance). Their vehicle insurance products are also very good which adds them to a definitive list of the top 10 best insurance companies in Saudi Arabia.
- How to get Arabian Shield Insurance for Visit Visa?
- Market Cap: SR 990 million.
- Revenue: SR 558 million.
- Arabian Shield Insurance website.
- Source: Tadawul.
Aljazira Takaful
AlJazira Takaful deals with all kinds of insurance but without a significant share in any one category as is evident from their financial highlights given below.
- Market Cap: SR 892 million.
- Revenue: SR 299 million.
- Arabian Shield Insurance website.
- Source: Tadawul.
Allianz Saudi Fransi Insurance
Allianz Saudi Fransi Cooperative Insurance is from the Saudi Fransi group which helps them get some big corporate clients.
They do not have a noticeable market share in the retail insurance sector. However, we still rank Allianz Saudi Fransi as one of the top 10 best insurance companies in Saudi Arabia.
MedGulf Insurance
MedGulf Insurance is well-recognized in the car insurance industry but it also provides Health, Property, and other insurance and reinsurance services.
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