Salama Cooperative Insurance Co.

What Salama Cooperative Insurance Co. does

Salama Cooperative Insurance Co. is a publicly listed Sharia-compliant cooperative insurer headquartered in Jeddah, Saudi Arabia, operating under the regulatory oversight of the Saudi Insurance Authority and the Council of Cooperative Health Insurance (CCHI). Founded in 1979 and traded on the Tadawul exchange (ticker 8050), the company offers a diversified portfolio across five core product lines: motor insurance (comprehensive, third-party, and corporate), medical insurance (including a dedicated SME Raha product and corporate plans), travel insurance, mandatory medical malpractice insurance, and a general insurance book spanning more than 25 sub-products across engineering, liability, marine, property, and general accident. Products are verified for Islamic compliance via Shariyah Review Reports, and the company holds ISO 27001:2022 certification for information security management.

The company distributes through a multi-channel model comprising its corporate website (with online motor checkout and claims filing), physical branches in Jeddah, Riyadh, and Dammam, a phone-based contact center, a mobile app, and an investor relations channel. Customer segments span individual policyholders, SMEs, corporate accounts, and registered healthcare professionals (for mandatory malpractice coverage), with no named enterprise anchors disclosed in the available data. Salama's stated vision targets leadership in cooperative insurance by shareholders' equity and market share, and the company executed an acquisition of Saudi Enaya Cooperative Insurance Co. in August 2025 to consolidate within the cooperative segment.

The business model is fundamentally a recurring-premium cooperative insurance model: motor third-party and medical malpractice lines are mandatory under Saudi regulation, driving high-volume policy renewals, while the medical and general insurance lines generate enterprise and SME recurring revenue. The company has 251-500 employees and operates exclusively in Saudi Arabia. No AI/ML capabilities, named proprietary models, or research pipelines are evidenced in the available data, and the technology platform is positioned as a standard digital insurance stack for policy and claims management rather than an AI-native architecture.

Name

Salama Cooperative Insurance Co.

Legal name

SALAMA Cooperative Insurance Company

Website

https://salama.com.sa

Company type

Public

Founded year

1979

Operating status

Operating

Headcount range

251–500 employees

Short description

Salama Cooperative Insurance Co. is a publicly listed Saudi Sharia-compliant cooperative insurer offering motor, medical, travel, malpractice, and general insurance products to individuals, SMEs, and corporates across Saudi Arabia, distributed through digital channels and branches in Jeddah, Riyadh, and Dammam.

Ownership category

akta.pro rank

Product category

Cooperative Insurance

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412), Direct Life, Health, and Medical Insurance Carriers (52411), Insurance Carriers and Related Activities (524)

SIC

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

akta.pro primary industry

Retakaful (Life & Health) (FSAIANAM)

akta.pro secondary industries

Marine Specialty (Hull/P&I/Cargo) (FSAJAGAJ), Standalone Umbrella Liability (FSAJANAE)

Keywords

• Cooperative insurance
• Motor insurance
• Medical insurance
• Travel insurance
• General insurance

Headquarters

HQ city

Jeddah

HQ country

Saudi Arabia

HQ region

Middle East

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Motor Insurance: Provides motor comprehensive and third party liability coverage including loss/damage from accidents, theft, fire, provision of replacement vehicles, drivers and passengers personal accident, natural disasters, and towing services
2. Medical Insurance: Comprehensive healthcare coverage compliant with CCHI regulations through appointed health service providers. Covers corporate groups and SMEs through various medical products including SME Raha insurance and corporate insurance
3. Travel Insurance: Comprehensive travel insurance coverage for corporate and individual clients covering death, personal accidents, medical expenses, repatriation, loss or delay of checked baggage, passport loss and third party liability
4. Malpractice Insurance: Comprehensive medical malpractice insurance coverage mandatory in the Kingdom of Saudi Arabia for all registered medical practitioners including physicians, dentists, nurses, therapists, optometrists, emergency medical technicians, surgical & non-surgical paramedical staff, and veterinarians
5. General Insurance: Leading provider of Sharia compliant general insurance products with a portfolio of more than 25 general products including engineering, liability, marine, property, and general accident insurance

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Salama Cooperative Insurance Co. is a Saudi Arabian Sharia-compliant cooperative insurance company that underwrites and sells motor, medical, travel, medical malpractice, and general insurance products. It serves both individual consumers (motor, travel, SME medical) and corporate groups/SMEs (corporate motor fleets, employee medical, and a 25+ product general insurance portfolio covering engineering, liability, marine, property, and accident risks). Policies are distributed through the company website, branch offices in Jeddah, Riyadh, and Dammam, and a phone-based contact center.

Product overview

Salama Cooperative Insurance Co. is a Sharia-compliant insurance provider offering a diversified portfolio of insurance products across five main categories: Motor Insurance (with comprehensive, third party, and corporate sub-products), Medical Insurance (including SME Raha and corporate plans compliant with CCHI regulations), Travel Insurance, Malpractice Insurance, and General Insurance (comprising engineering, liability, marine, property insurance, and general accident products). The company operates as a multi-product insurance platform serving individual and corporate customers in the Kingdom of Saudi Arabia, with over 25 general insurance products in their portfolio.

Differentiator

Problem solved

Functional benefit

Products and services

• Motor Insurance Motor comprehensive and third-party liability coverage including loss or damage to the insured vehicle from accidents, theft, and fire, with replacement vehicle provision, drivers and passengers personal accident cover, natural disaster and towing protection, and compliance with the Unified Third Party Insurance Policy issued by the Saudi Insurance Authority. For individual vehicle owners and corporate fleets.
• Comprehensive Motor Insurance Full-coverage motor insurance protecting the insured vehicle against loss or damage from accidents, theft, and fire according to policy terms, conditions, and exclusions. For individual vehicle owners.
• Third Party Motor Insurance Liability coverage for third-party damages as mandated by the Unified Third Party Insurance Policy issued by the Saudi Insurance Authority. For individual vehicle owners.
• Corporate Motor Insurance Motor insurance coverage tailored for corporate fleets and business customers.
• Medical Insurance Comprehensive healthcare coverage compliant with CCHI regulations through appointed health service providers, covering corporate groups and SMEs via multiple medical products.
• SME Raha Medical Insurance Medical insurance product designed specifically for small and medium enterprises (SMEs).
• Corporate Medical Insurance Medical insurance coverage tailored for corporate groups and large enterprises providing employee healthcare benefits.
• Travel Insurance SALAMA Travel Care Insurance provides comprehensive travel insurance coverage for overseas trips, covering death, personal accidents, medical expenses, repatriation, loss or delay of checked baggage, passport loss, and third-party liability. For individual and corporate clients.
• Medical Malpractice Insurance Comprehensive medical malpractice insurance coverage mandatory in the Kingdom of Saudi Arabia for all registered medical practitioners including physicians, dentists, nurses, therapists, optometrists, emergency medical technicians, surgical and non-surgical paramedical staff, and veterinarians.
• General Insurance Sharia-compliant general insurance product portfolio with more than 25 general products covering various commercial and personal risks including engineering, liability, marine, property, and general accident.
• Engineering Insurance Insurance coverage for engineering risks and project-related losses.
• Liability Insurance Coverage for liability risks to protect businesses and individuals.
• Marine Insurance Insurance coverage for marine and shipping-related risks.
• Property Insurance Coverage for property-related risks and damage.
• General Accident Insurance General accident coverage for various accidental events and losses.

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• The Company for Cooperative Insurance (Tawuniya): Saudi Arabia's largest cooperative insurer offering motor, medical, and general insurance. Directly competes with Salama across all major product lines under the same cooperative/takaful model and Saudi Insurance Authority regulation.
• Walaa Cooperative Insurance Co. Saudi-listed cooperative insurer offering motor, medical, travel, and general insurance. Closely comparable in size, product mix, and Sharia-compliant structure, competing head-to-head in the Saudi market.
• Bupa Arabia for Cooperative Insurance: Leading Saudi cooperative insurer specializing in health/medical insurance with CCHI compliance. Directly overlaps with Salama's medical and SME Raha products and competes for the same corporate health accounts.
• United Cooperative Assurance Co. Saudi cooperative insurer providing motor, medical, and general insurance to individuals and corporates. Comparable peer operating under the same takaful/cooperative model in Saudi Arabia.
• Gulf General Cooperative Insurance Co. Saudi cooperative insurer offering multi-line coverage including motor, medical, and general insurance. Comparable in scale and product portfolio, competing in the same Saudi distribution channels.
• Al Etihad Cooperative Insurance Co. Saudi cooperative insurer providing motor, medical, property, and engineering insurance. Competes directly with Salama in the Saudi market under the same cooperative framework and regulatory regime.
• Arabian Shield Cooperative Insurance Co. Saudi cooperative insurer with a multi-line portfolio spanning motor, medical, marine, and property insurance. Directly comparable in cooperative structure and product breadth.
• Amana Cooperative Insurance Co. Saudi cooperative insurer offering motor, medical, and general insurance products. Similar cooperative structure and Sharia-compliant positioning to Salama.

Regional players

• Salama Insurance (UAE): UAE takaful provider offering family, medical, and general takaful. Shares brand adjacency and takaful model but operates in a different GCC jurisdiction from Salama Saudi.
• AlAhli Takaful: UAE-based takaful insurer offering family, medical, and general takaful products. Comparable Islamic insurance model but operating primarily in the UAE rather than Saudi Arabia.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/SalamaCIC

Compliance1 record

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&A1 record

Investments

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

Frequently asked questions about Salama Cooperative Insurance Co.