Arab Insurance Group

What Arab Insurance Group does

Arab Insurance Group (B.S.C.), operating as Arig, is a Bahrain-domiciled, publicly listed reinsurer (Bahrain Bourse and Dubai Financial Market, ticker ARIG) founded in 1980 to provide treaty, facultative, and life and medical reinsurance capacity to insurance companies across the Afro-Asia region. The group's historical product set comprised portfolio-level treaty acceptances, individual facultative placements, and life/health reinsurance, distributed directly to ceding insurers through dedicated Treaty, Facultative, Life and Medical, and Claims & Technical Accounting teams, with revenue generated through reinsurance premiums negotiated annually on a subscription basis. Technology infrastructure centred on internal policy administration and claims processing systems, including in-house software developed for the Gulf Warranties automobile extended warranty business to handle high-volume GCC policy administration.

On 13 August 2020 the Shareholders' Extraordinary General Meeting resolved to cease reinsurance underwriting and place the group's reinsurance portfolio into run-off, effectively ending new business origination. The wholly-owned DIFC subsidiary Takaful Re Ltd (US$ 500 million authorized / US$ 125 million paid-up capital, Sharia-compliant retakaful) was likewise placed into run-off, and Gulf Warranties W.L.L, which distributed automobile extended warranty products through five national insurance companies in the Gulf, was placed under voluntary liquidation. The group retains Arig Capital Ltd in the United Kingdom and continues to publish financial results, convene board meetings, and service legacy policyholders under Central Bank of Bahrain oversight.

Ownership is widely distributed across more than 6,000 private and institutional investors, with major shareholders including the Central Bank of Libya (14.46%), Gulf Tamin Ltd (13.85%), the UAE General Pension & Social Security Authority (12.50%), Ahmed Omar Salem Al Karbi (9.86%), the Kuwait Investment Authority (9.10%), and the Emirates Development Bank (5.00%). The most recent disclosed balance sheet metrics (as of 31 December 2016) showed US$ 245.4 million of gross premiums written, US$ 256.6 million of shareholders' equity, US$ 737.4 million of investment assets, and US$ 1,114.4 million of total assets, with the group carrying an A.M. Best 'A- (Excellent)' financial strength rating upgraded in December 2016. The current operating model is therefore run-off capital management and legacy claims servicing rather than new market underwriting.

Name

Arab Insurance Group

Legal name

Arab Insurance Group (B.S.C.)

Website

https://arig.net

Company type

Public

Founded year

1980

Operating status

Operating

Headcount range

101–250 employees

Short description

Arab Insurance Group (ARIG) is a Bahrain-listed reinsurer founded in 1980 that historically provided treaty, facultative, and life and medical reinsurance to ceding insurers across the Afro-Asia region. Since August 2020 it has operated in run-off, managing legacy portfolios and subsidiaries Takaful Re and Arig Capital.

Ownership category

akta.pro rank

Product category

Reinsurance Services

NAICS

Insurance Carriers (5241)

akta.pro primary industry

Run-off Investment & Asset-Liability Management (ALM) for Legacy Books (FSAOAJAO)

akta.pro secondary industry

Retakaful (Life & Health) (FSAIANAM)

Keywords

• Reinsurance services
• Treaty reinsurance
• Facultative reinsurance
• Life medical reinsurance
• Run-off portfolio management

Headquarters

HQ city

Manama

HQ country

Bahrain

HQ region

Middle East

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Reinsurance Premiums: ARIG historically generated revenue through reinsurance premiums received from ceding insurance companies. The company accepted both treaty and facultative reinsurance business. However, effective August 13, 2020, the Shareholders' Extraordinary General Meeting resolved to cease reinsurance underwriting and place the reinsurance portfolio in run-off.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Arab Insurance Group (ARIG) is a Bahrain-based reinsurer that historically offered treaty, facultative, and life and medical reinsurance capacity to insurance companies across the Afro-Asia region. Following a shareholder resolution in August 2020, the company ceased new reinsurance underwriting and is now managing its legacy reinsurance portfolio in run-off, while operating Sharia-compliant retakaful (Takaful Re, Dubai) and automobile extended warranty (Gulf Warranties) businesses through subsidiaries.

Product overview

Arab Insurance Group (Arig) is a reinsurance company that historically offered a broad range of reinsurance products and services. The company has ceased new reinsurance underwriting and placed its reinsurance portfolio in run-off as of August 2020. The product portfolio includes Treaty Reinsurance, Facultative Reinsurance, and Life and Medical Insurance as core offerings, supported by Claims & Technical Accounting and Group Finance services. Arig maintains three subsidiaries: Takaful Re Ltd (Sharia-compliant retakaful services in Dubai, currently in run-off), Gulf Warranties W.L.L (automobile extended warranty policies in the GCC region, under voluntary liquidation), and Arig Capital Limited (UK-based subsidiary).

Differentiator

Problem solved

Functional benefit

Products and services

• Treaty Reinsurance Reinsurance arrangements where the reinsurer accepts a percentage of all policies within a defined class or line of business under long-term agreements with ceding insurance companies.
• Facultative Reinsurance Individual risk-by-risk reinsurance coverage where each policy is evaluated and accepted or declined on a case-by-case basis by the reinsurer.
• Life and Medical Reinsurance Reinsurance coverage for life insurance and health insurance products, including support for life insurance quotation pricing and claims verification for ceding insurance companies.
• Claims and Technical Accounting

Quantifiable outcome

• Combined ratio improved to 96.8% compared with 106.6% in 2015, demonstrating improved underwriting efficiency
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature1 record

Partnerships

Six partnerships are on record, tiered core subsidiary, minor and core channel.

• Takaful Re Ltd (Subsidiary)core subsidiaryStrategic or Co-development PartnerTakaful Re Ltd is a wholly-owned subsidiary of ARIG located in Dubai DIFC, offering Sharia-compliant retakaful solutions. With authorized capital of US$ 500 million and paid-up capital of US$ 125 million, it serves the growing Takaful and Islamic insurance markets. Currently under run-off.
• Gulf Warranties W.L.L (Subsidiary)core subsidiaryStrategic or Co-development PartnerGulf Warranties W.L.L is a subsidiary offering extended warranty cover policies for automobiles through a network of five national insurance companies in the Gulf region. Currently under voluntary liquidation.
• Arig Capital Ltd (Subsidiary)core subsidiaryStrategic or Co-development PartnerArig Capital Ltd operates as a subsidiary in London, UK, supporting ARIG's international operations and capital management activities.
• Bahrain Clear WLLminorOthersBahrain Clear WLL serves as ARIG's primary share registrar, located at Bahrain Financial Harbour, Harbour Gate (4th Floor), providing shareholder registry and transfer services.
• KFin Technologies (Bahrain) WLLminorOthersKFin Technologies (Bahrain) WLL serves as ARIG's share sub-registrar, providing backup shareholder registry services from Office No. 74, 7th Floor, Zamil Tower, Bahrain.
• National Insurance Companies (GCC Network)core channelChannel Partner/ Reseller/ DistributorGulf Warranties distributes extended warranty products through five national insurance companies in the Gulf region, enabling customers to keep underwriting premiums onshore while providing comprehensive automobile warranty coverage throughout GCC and Levant.

Scale indicators8 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Trust International Insurance & Reinsurance Company: Bahrain-headquartered reinsurance company operating in the MENA region across treaty, facultative, and life lines. Directly comparable to ARIG as a regional reinsurer of similar vintage serving the same Afro-Asia cedent base.

Broad incumbents

• Swiss Re: Global tier-1 reinsurer offering treaty, facultative, and specialty reinsurance across life and P&C. Operates in MENA and competes with ARIG for large-ticket treaty business, though at significantly greater scale and product breadth.
• Munich Re: One of the world's largest reinsurers with broad product lines including life, P&C, and specialty. Overlaps with ARIG in treaty and facultative placements across Middle East and Africa.
• Hannover Re: Global reinsurer with a dedicated Hannover ReTakaful entity in Bahrain, directly comparable to ARIG's Takaful Re subsidiary. Competes in MENA treaty and facultative reinsurance markets.
• CCR Re / Société Centrale de Réassurance (SCR): French state-affiliated reinsurer with life and P&C capabilities across Europe, MENA, and Africa. Comparable to ARIG's life and medical reinsurance offering and geographic reach.
• Lloyd's of London: Global specialty insurance and reinsurance marketplace with significant MENA and Africa exposure. Comparable to ARIG's specialty facultative placements across engineering, aerospace, and casualty lines.

Regional players

• Saudi Reinsurance Company: Saudi Arabia-based regional reinsurer serving Middle East and North Africa. Comparable to ARIG as a regional treaty and facultative reinsurer with similar geographic focus and client base.
• African Reinsurance Corporation (Africa Re): Pan-African reinsurance pool serving African and Middle Eastern markets. Comparable to ARIG's Afro-Asia regional focus and similarly specialized underwriting expertise across the region.
• General Insurance Corporation of India (GIC Re): Indian state-owned reinsurer that until recently held domestic monopoly and operates cross-border across Asia and Africa. Comparable to ARIG's regional profile and treaty/facultative product mix.
• RAK Insurance: UAE-based general insurance company with shared cross-shareholding and board overlap with ARIG (Fetooh Al Zayani serves on both boards). Operates in adjacent GCC markets and is a peer in the regional insurance ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Arab Insurance Group