Wafa Insurance

What Wafa Insurance does

Wafa Insurance is a publicly traded Saudi insurance company headquartered in Riyadh, listed on the Saudi Exchange (Tadawul) under symbol 8110, that provides general insurance, health insurance, and savings products. The company operates with an employee base of 101–250 and was founded in 2007, positioning it as a mid-sized multi-line insurer in the Saudi market.

The company's business model is that of a regulated multi-line insurer underwriting general, health, and savings policies in the Kingdom of Saudi Arabia, generating revenue through premiums written across these three product lines. As a Tadawul-listed entity, Wafa Insurance is subject to Saudi Arabian insurance regulatory oversight (capital adequacy, licensing) and standard financial disclosure requirements. Limited product, pricing, distribution, or claims-operations details are disclosed in the source material beyond the line-of-business categorization.

The principal disclosed strategic action in the period covered is the 2025 announcement of a mandatory tender offer for Delta Insurance in Egypt (a cross-border M&A move targeting a 63.39% stake at EGP 40 per share, with a minimum 51% of capital). This positions the pending Egypt acquisition as the company's most material inorganic growth signal, while no domestic product launches, partnerships, or technology initiatives are documented in the input.

Name

Wafa Insurance

Website

https://wafainsurance.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

101–250 employees

Short description

Wafa Insurance is a publicly listed Saudi insurance company (Tadawul:8110) headquartered in Riyadh that provides general, health, and savings insurance products to customers in Saudi Arabia and is pursuing a cross-border acquisition of Egypt's Delta Insurance.

Ownership category

akta.pro rank

Product category

General Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Health and Medical Insurance Carriers (524114), Insurance Carriers (5241)

SIC

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

akta.pro primary industry

Commercial Excess Liability (Large Accounts) (FSAJANAG)

Keywords

• General insurance
• Health insurance
• Savings products
• Insurance services
• Risk protection

Headquarters

HQ city

Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Core offering

Wafa Insurance is a Saudi Arabia-based insurance company that provides general insurance, health insurance, and savings products. As a publicly listed firm on the Tadawul exchange (ticker 8110), it underwrites and distributes insurance policies and savings solutions to customers. The company is pursuing inorganic growth through a planned mandatory tender offer to acquire a majority stake in Delta Insurance.

Product overview

Wafa Insurance operates as an insurance company. The available source data from wafainsurance.com consists of a minimal WordPress website with no substantive product or service information, no named product portfolio, no modules, and no product descriptions. No products, services, or offerings are described in the provided source material.

Differentiator

Problem solved

Functional benefit

Products and services

• General Insurance

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Recent moves2 records

Expansion highlights2 records

Direct peers

• Al Etihad Cooperative Insurance: Saudi-listed cooperative insurer providing general and health insurance. Closely comparable in product portfolio, distribution approach, and the small/mid-cap segment of the Tadawul insurance board.
• Walaa Cooperative Insurance: Saudi-listed cooperative insurer offering general insurance products including motor, property, engineering, and medical. Comparable in product mix, listing venue, and target Saudi corporate/SME customer base.
• Allianz Saudi Fransi Cooperative Insurance: Saudi-listed joint venture insurer offering general insurance lines. Comparable listed Saudi multi-line insurer with a global reinsurance parent as backing.
• Bupa Arabia for Cooperative Insurance: Tadawul-listed Saudi health insurance specialist. Directly comparable to Wafa's health insurance line and shares the same regulatory and customer environment; benchmark for listed Saudi health insurer economics.
• The Company for Cooperative Insurance (Tawuniya): Saudi Arabia's largest listed multi-line insurer offering general, health, and savings products on Tadawul. Most direct comparable given similar product mix, public listing on the same exchange, and overlapping customer base in the Saudi market.
• AXA Cooperative Insurance (Saudi Arabia): Saudi-listed affiliate of global insurer AXA offering general and health insurance. Directly comparable in Saudi product mix and customer base, with global parent providing a benchmark for underwriting discipline.
• Salama Cooperative Insurance: Tadawul-listed Saudi insurer offering general and health lines. Comparable multi-line structure and listed-equity profile make it a direct reference point for Wafa's scale and combined ratio benchmarks.

Broad incumbents

• Qatar Insurance Company: Largest GCC insurance group with multi-line personal, commercial, and specialty coverage. Relevant as a regional incumbent benchmark for capital, reinsurance access, and cross-border acquisition strategy.
• Gulf Insurance Group (GIG): Kuwait-headquartered regional insurance group with multi-line operations across MENA including Saudi Arabia. Comparable to Wafa in product breadth and to the proposed Wafa-Delta combination given GIG's own multi-country footprint.

Regional players

• Misr Insurance Company (Egypt): Egypt's largest state-linked general insurer and a relevant reference for the Egyptian market that Wafa is entering via Delta Insurance. Useful for sizing the addressable Egyptian market Wafa would gain exposure to.

Market position

Strengths3 records

Weaknesses3 records

Competitive moat2 records

Key risks5 records

Key highlights4 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

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 Wafa Insurance