Top 10 Insurance Companies in Saudi Arabia – 2025 Discover the top 10 insurance companies in Saudi Arabia, including Tawuniya, Bupa Arabia, Medgulf, and Al Rajhi Takaful. Learn about their health, motor, and life insurance plans.
1. Introduction
Top 10 Insurance Companies in Saudi Arabia – 2025
Saudi Arabia’s insurance industry is rapidly growing, with multiple insurance providers offering high-quality services. These companies provide health, motor, life, and corporate insurance plans, which are essential for individuals and businesses. In this article, we will explore the top 10 insurance companies in Saudi Arabia in detail.
2. Overview of the Insurance Industry in Saudi Arabia
The insurance sector in Saudi Arabia operates under the Cooperative Insurance Model, which follows Islamic finance and Shariah principles. The Saudi Central Bank (SAMA) regulates this sector, ensuring that all insurance companies comply with its rules. As of 2025, the Saudi insurance market has significantly grown, with health and motor insurance being the largest segments.Cropped shot of a man and woman completing paperwork together at a desk
3. Top 10 Insurance Companies in Saudi Arabia
1. Tawuniya Insurance
Tawuniya is the oldest and largest insurance company in Saudi Arabia. Established in 1986, it offers multi-line insurance services, including health, motor, travel, and property insurance. Tawuniya has a strong financial base and a wide service network.
2. Bupa Arabia
Bupa Arabia is a leading health insurance provider offering the best medical insurance plans for individuals and corporate clients. It also provides advanced digital healthcare solutions, making it convenient for customers. Bupa Arabia has a strong claim settlement record.
3. Medgulf Insurance Insurance Companies in Saudi Arabia
Medgulf is a well-known insurance company operating in Saudi Arabia, Bahrain, and Lebanon. It provides health, motor, property, and life insurance services. Medgulf is recognized for its excellent customer service and quick claim process.
4. Al Rajhi Takaful
Top 10 Insurance Companies in Saudi Arabia – 2025
Al Rajhi Takaful is an Islamic insurance provider offering Shariah-compliant insurance plans. It mainly focuses on health, motor, and property insurance. Backed by Al Rajhi Bank, it is one of the most trusted names in the Saudi insurance market.
5. Walaa Cooperative Insurance
Walaa Insurance provides diverse insurance plans, including health, travel, property, and motor insurance. Its strong customer support and financial stability make it a reliable insurance provider.
6. AXA Cooperative Insurance
Top 10 Insurance Companies in Saudi Arabia – 2025
AXA Cooperative is a multinational insurance company with a strong presence in the Saudi market. It offers health, home, travel, and business insurance services. With global expertise and strong financial backing, AXA is a preferred choice for many.
7. Arabian Shield Cooperative Insurance
Arabian Shield Cooperative Insurance is a well-known provider offering specialized insurance services for both retail and corporate clients. It has a strong market share in the health and motor insurance segments.
8. Gulf Union Cooperative Insurance
Gulf Union is a rapidly growing insurance company that provides various insurance products, including health, property, and motor insurance. It is known for competitive pricing and excellent customer servic
9. Malath Cooperative Insurance
Top 10 Insurance Companies in Saudi Arabia – 2025
Malath Insurance is a reputable Saudi insurance company offering health, motor, and general insurance services. It is popular for its quick claim processing and affordable insurance plans.
10. Allianz Saudi Fransi
Allianz Saudi Fransi is a joint venture between Allianz Group and Banque Saudi Fransi. This company brings global insurance experience combined with local market expertise. It has a strong presence in the health and corporate insurance segments.
Table of Contents
Top 10 Insurance Companies in Saudi Arabia – 2025
- 1. Introduction
- 2. Overview of the Insurance Industry in Saudi Arabia
- 3. Top 10 Insurance Companies in Saudi Arabia
- 1. Tawuniya Insuranc
- 2. Bupa Arabia
- 3. Medgulf Insurance
- 4. Al Rajhi Takaful
- 5. Walaa Cooperative Insurance
- 6. AXA Cooperative Insurance
- 7. Arabian Shield Cooperative Insurance
- 8. Gulf Union Cooperative Insurance
- 9. Malath Cooperative Insurance
- 10. Allianz Saudi Fransi
4. Conclusion
Top 10 Insurance Companies in Saudi Arabia – 2025
The insurance industry in Saudi Arabia is expanding rapidly, and these top 10 insurance companies have secured strong positions in the market due to their exceptional services. Tawuniya and Bupa Arabia are market leaders in providing high-quality insurance plans, while Al Rajhi Takaful and AXA Cooperative focus on Islamic and international standards. When choosing an insurance provider, it is essential to check the company’s financial stability, customer support, and claim settlement process.
FAQs
1. What is the largest insurance company in Saudi Arabia?
Tawuniya Insurance is the largest and oldest insurance company in Saudi Arabia, offering a wide range of insurance services.
2. Is health insurance mandatory in Saudi Arabia?
Yes, health insurance is mandatory for expatriates and their dependents in Saudi Arabia. Employers must provide health insurance for their employees.
3. Which is the best health insurance provider in Saudi Arabia?
Bupa Arabia and Tawuniya are the most reliable and trusted health insurance providers in the country.
4. Is Islamic insurance available in Saudi Arabia?
Yes, companies like Al Rajhi Takaful and Walaa Cooperative offer Islamic (Takaful) insurance plans that comply with Shariah principles.
5. Which is the best motor insurance provider in Saudi Arabia?