Al-Rajhi Company For Cooperative Insurance

What Al-Rajhi Company For Cooperative Insurance does

Al-Rajhi Company For Cooperative Insurance, operating commercially as Takaful Al Rajhi, is a publicly listed Saudi cooperative (Takaful) insurer established in 2007 and regulated by the Saudi Central Bank (SAMA). It operates exclusively within the Kingdom of Saudi Arabia and serves three primary customer segments — individual retail, small and medium enterprises (up to 249 employees), and large enterprises — through a 20+ product portfolio split between personal lines (motor, travel, domestic helper health, home, cyber fraud, medical malpractice, visit-visa extension, domestic worker contract) and commercial lines (SME health, business vehicle, property all-risks, public and civil liability, contractors all-risks, contractors plant and machinery, marine, trade credit, fidelity guarantee, workmen's compensation, group protection and savings).

The underlying technology stack is a Sharia-compliant Takaful platform delivered via web, mobile app (iOS, Android, Huawei AppGallery), and a WhatsApp sales channel, layered with digital value-added services: the Salamti telemedicine clinic (24/7 video/voice/text consultations, e-prescriptions, lab bookings, chronic disease management) and the HayatX AI-powered wellness program (gamified health tracking using facial-scanning-based vital signs extraction, sleep and mood monitoring, XCoins rewards). The company applies AI across claims fraud detection, process automation, personalized product recommendation, and knowledge retrieval for customer service, and operates a Sharia Board overseeing surplus distribution to policyholders whose claims ratio is below 70% of earned premiums (minimum 10% payout per SAMA regulation).

The business model generates revenue primarily through recurring annual insurance contributions (premiums) across personal and commercial lines, with cross-sell via bundle packages offering up to 20% discounts (Afaq, Sanad, Shumul for individuals; A'mal, A'mal Plus, Build Your Bundle for SMEs). Distribution is hybrid — digital self-serve (website, app, WhatsApp) for retail, the Qaid commission-based certified-agent program for community-led sales, dedicated SME and enterprise sales teams for commercial lines, and physical branches and claims centers for in-person service. Surplus distribution, partner discount programs (Auto Fast, Zero One, Specular, Calo, Speero, Mizan Al Usaib), and wellness rewards (HayatX XCoins) drive retention. The company maintains a Moody's A3 Insurance Financial Strength Rating with stable outlook, governance under Chairman Abdullah bin Sulaiman Al Rajhi and CEO Saud bin Ghanim (appointed March 2023), and a full executive bench covering finance, actuarial, risk, technology, digital, sales, and compliance functions.

Name

Al-Rajhi Company For Cooperative Insurance

Legal name

Al-Rajhi Company For Cooperative Insurance (شركة الراجحي للتأمين التكافلي)

Website

https://alrajhitakaful.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Al-Rajhi Company For Cooperative Insurance (Takaful Al Rajhi) is a publicly listed Saudi Sharia-compliant cooperative insurer offering 20+ personal and commercial insurance products across motor, health, travel, home, cyber, and SME lines, distributed via digital, agent, and branch channels to individuals, SMEs, and enterprises in Saudi Arabia.

Ownership category

akta.pro rank

Product category

Cooperative Insurance (Takaful)

NAICS

Insurance Carriers (5241), Direct Property and Casualty Insurance Carriers (524126), Direct Life, Health, and Medical Insurance Carriers (52411), Other Insurance Funds (52519)

SIC

Insurance Carriers, Nec (6399), Fire, Marine & Casualty Insurance (6331), Accident & Health Insurance (6321), Life Insurance (6311)

akta.pro primary industry

Takaful Bancassurance (Islamic Insurance Distribution) (FSABAGAM)

akta.pro secondary industries

Shariah Governance, Compliance & Advisory (Shariah Boards, Audit, Fatwa) (FSABAGAJ), Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH)

Keywords

• Cooperative insurance
• Motor insurance
• Health insurance
• Travel insurance
• Cyber insurance

Headquarters

HQ city

Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Takaful Insurance Premiums: As a Sharia-compliant Takaful (cooperative insurance) company, Al Rajhi Takaful collects insurance premiums (contributions) from policyholders into a shared fund. Claims are paid from this fund, and any surplus after reserves is distributed back to eligible policyholders. Revenue is generated across motor, health, travel, home, cyber, medical malpractice, domestic worker, and business insurance lines.
2. Corporate & SME Health Insurance: Group health insurance policies for SMEs and large enterprises, with flexible packages covering employees under the company's extensive network of 1,100+ healthcare providers.
3. Bundle/Package Products: Bundled insurance packages offering discounts (up to 20% for individuals, up to 15% for business) when multiple policies are purchased together, driving cross-sell and premium accumulation.

Pricing tiers

Go-to-market motion2 records

Distribution channels8 records

Marketing channels12 records

Core offering

Al-Rajhi Company For Cooperative Insurance (Takaful Al Rajhi) is a Saudi Arabia-based Sharia-compliant cooperative insurance (Takaful) provider that underwrites and distributes a diversified portfolio of general and personal insurance products to individuals, SMEs, and large enterprises across the Kingdom. The company operates on a cooperative insurance model where policyholders share surplus from underwriting results in accordance with Islamic principles, and distributes its offerings through digital channels and a national branch/agent network.

Product overview

Al Rajhi Takaful operates as a Sharia-compliant cooperative insurance company offering a comprehensive portfolio of 20+ insurance products for both individuals and businesses in Saudi Arabia. The product line is organized into personal lines (vehicle, travel, medical malpractice, domestic helper health, visit visa extension, home, cyber fraud, and domestic worker contract insurance) and commercial lines (business vehicle, SME health, civil liability, property all-risks, group life/savings, trade credit, fidelity guarantee, marine, public liability, contractors plant/machinery, contractors all-risks, and workers' compensation insurance). Value-added digital services include the HayatX AI-powered wellness and rewards app, the Salamti digital health clinic, the Qaid certified agent program, a supplier portal, and a policyholder surplus distribution program. Bundle packages offering up to 20% discounts group complementary products together for both individual and SME customers.

Differentiator

Problem solved

Functional benefit

Brands

• HayatX: A health and protection program that rewards policyholders for maintaining healthy lifestyles through points, challenges, and rewards redeemable for discounts and prizes.
• Salamti (سلماتي)
• Qada Program (برنامج قائد)

Products and services

• Motor Insurance
• Health Insurance
• Travel Insurance
• Cyber Insurance
• Property and Casualty Insurance

Quantifiable outcome

• Moody's A3 IFSR rating with stable outlook — reflects strong financial stability and operational performance
• +3 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability9 records

Feature4 records

Partnerships

Eleven partnerships are on record, tiered minor and core.

• King Fahd University of Petroleum and Minerals (جامعة الملك فهد للبترول والمعادن)minorStrategic or Co-development Partner · 30 April 2026Participation in KFUPM's 2026 career fair to recruit national talent, interact with over 2,600 applicants, and support national workforce development — part of broader community engagement and talent acquisition strategy.
• Saudi Exports Development Authority (هيئة تنمية الصادرات السعودية)coreStrategic or Co-development Partner · 15 December 2025تكافل الراجحي signed an MoU with the Saudi Exports Development Authority to provide specialized insurance solutions supporting Saudi exporters, enhancing competitiveness of Saudi non-oil exports, and enabling national establishments to expand into regional and international markets.
• Al-Matar Application (تطبيق المطار)coreStrategic or Co-development Partner · 15 December 2025Strategic partnership with the Al-Matar travel app to develop innovative digital and insurance solutions for air travel in Saudi Arabia, enhancing travel safety, security, and experience through integrated digital and insurance offerings.
• Imam Mohammad Ibn Saud Islamic University (جامعة الإمام محمد بن سعود الإسلامية)minorStrategic or Co-development Partner · 28 September 2025Donated and inaugurated two training rooms and a computer lab at the Sharia College of Imam Mohammad Ibn Saud Islamic University, supporting educational infrastructure and youth development in alignment with Vision 2030.
• Made in Saudi Program (برنامج صُنع في السعودية)coreStrategic or Co-development Partner · 1 January 2025Strategic participation in the third edition of the Made in Saudi program, supporting local content, integration between public and private sectors, and alignment with Saudi Vision 2030 objectives.
• Auto Fast (أوتو فاست)minorGTM or Marketing PartnerPartner discount program offering 25% discount to Al Rajhi Takaful policyholders on automotive services. Discount requires an active insurance policy and cannot be combined with other offers. Valid for one year.
• Zero One (زيرو ون)minorGTM or Marketing PartnerPartner discount program offering 68% discount to Al Rajhi Takaful policyholders on fitness and lifestyle services.
• Specular (سبيكلر)minorGTM or Marketing PartnerPartner discount program offering 55% discount to Al Rajhi Takaful policyholders on lifestyle services.
• Mizan Al Usaib (ميزان العضيب)minorGTM or Marketing PartnerPartner discount program offering 15% discount on labor/wages to Al Rajhi Takaful policyholders.
• CalominorGTM or Marketing PartnerPartner discount program offering savings on weekly and monthly fitness packages to Al Rajhi Takaful policyholders.
• SpeerominorGTM or Marketing PartnerPartner discount program offering 10% discount (max SAR 500, with 2 redemptions per customer) to Al Rajhi Takaful policyholders on home services.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Walaa Cooperative Insurance Company: Listed Saudi cooperative insurer offering motor, health, property and engineering lines to individuals and corporates. Directly comparable in product mix, Sharia-compliance structure, and reliance on Saudi retail and SME channels.
• The Company for Cooperative Insurance (Tawuniya): Saudi Arabia's largest cooperative (Takaful) insurer, offering motor, health, property and casualty lines with a national branch and digital network. Most directly comparable peer: same Sharia-compliant cooperative model, same SAMA oversight, same multi-line retail and corporate book.
• Amana Cooperative Insurance Company: Saudi cooperative insurer serving individuals and corporates with health, motor and general lines under SAMA supervision. Directly comparable cooperative peer with similar channel mix.
• Al Etihad Cooperative Insurance Company: Saudi listed cooperative insurer with personal and commercial lines including motor, health, and property. Closely comparable peer given shared cooperative structure, SAMA regulation and similar target customer base.
• Bupa Arabia for Cooperative Insurance: Leading Saudi cooperative health insurer with a large provider network and corporate group-health focus. Direct peer where overlap is highest (health insurance, digital distribution, employer clients) and brand trust is similarly strong.
• Salama Cooperative Insurance Company: Saudi cooperative insurer providing motor, medical, marine and general insurance under SAMA oversight. Directly comparable cooperative model with overlapping retail and SME target segments.
• CHUBB Arabia Cooperative Insurance Company: Saudi cooperative affiliate of CHUBB offering personal and commercial lines under SAMA oversight. Directly comparable as a licensed cooperative insurer with multi-line Saudi operations.
• Gulf Union Cooperative Insurance Company: Saudi cooperative insurer offering personal and commercial lines, with prior AXA cooperative heritage. Directly comparable on regulatory model, Sharia oversight and product breadth.
• Mediterranean & Gulf Cooperative Insurance (Medgulf): Saudi cooperative insurer with motor, health, property and engineering products. Comparable peer in cooperative structure, retail/SME focus and digital channel strategy.
• Arabian Shield Cooperative Insurance Company: Saudi cooperative insurer offering health, motor, property and engineering products. Same regulatory and Sharia framework; comparable in scale and distribution mix.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/AlRajhiTakaful
• YouTubeyoutube.com/channel/UCPqvLGY2Nbp8Wf-aHYqLgxg
• Facebookfacebook.com/rajhitakaful
• LinkedInlinkedin.com/company/al-rajhi-takaful-al-rajhi-company-for-cooperative-insurance-
• Instagraminstagram.com/alrajhitakaful
• TikToktiktok.com/@alrajhitakaful.sa?_r=1&_t=ZS-95L6rPE4QBU

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 Al-Rajhi Company For Cooperative Insurance