Salama Cooperative Insurance Co.
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.
- Company typePublic
- Founded1979
- HeadquartersJeddah, Saudi Arabia
- Headcount251–500
- GTM typeB2B and B2C
- OfferingServices
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.
Salama Cooperative Insurance Co. firmographics
Firmographics- 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
Salama Cooperative Insurance Co. industry classification
Industry- 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
Where Salama Cooperative Insurance Co. is headquartered
LocationHeadquarters
- HQ city
- Jeddah
- HQ country
- Saudi Arabia
- HQ region
- Middle East
Offices4 records
Markets served
Salama Cooperative Insurance Co. business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure, Others
Revenue model
- 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
- 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
- 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
- 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
- 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
Salama Cooperative Insurance Co. product offering
Product offeringCore 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.
Companies that use Salama Cooperative Insurance Co.
Customer profileSegments5 records
Ideal customer profiles5 records
Salama Cooperative Insurance Co. technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Salama Cooperative Insurance Co. partnerships and signals
Strategic signalScale indicators3 records
Recent moves6 records
Expansion highlights5 records
Salama Cooperative Insurance Co. competitors and assessment
Company assessmentDirect 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
Salama Cooperative Insurance Co. social profiles
Digital presenceSalama Cooperative Insurance Co. compliance and trust
Trust signalCompliance1 record
Salama Cooperative Insurance Co. financial estimates
Financial estimateRevenue estimate
Valuation estimate
Salama Cooperative Insurance Co. leadership team
Management profileNumber of profiles
Profiles1 record
Salama Cooperative Insurance Co. funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Salama Cooperative Insurance Co. M&A and investment
M&A and investmentM&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.
What does Salama Cooperative Insurance Co. do?
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.
Is Salama Cooperative Insurance Co. a public or private company?
Salama Cooperative Insurance Co. is a public company. It is classified as public and is currently operating.
When was Salama Cooperative Insurance Co. founded?
Salama Cooperative Insurance Co. was founded in 1979. It employs 251 to 500 people.
Where is Salama Cooperative Insurance Co. based?
Salama Cooperative Insurance Co. is headquartered in Jeddah, Saudi Arabia, in the Middle East region.
How does Salama Cooperative Insurance Co. make money?
Five revenue lines are on record. Motor Insurance is the primary driver. The others are medical Insurance, travel Insurance, malpractice Insurance and general Insurance.
Who are Salama Cooperative Insurance Co.'s main competitors?
Direct peers on record are The Company for Cooperative Insurance (Tawuniya), Walaa Cooperative Insurance Co., Bupa Arabia for Cooperative Insurance, United Cooperative Assurance Co., Gulf General Cooperative Insurance Co., Al Etihad Cooperative Insurance Co., Arabian Shield Cooperative Insurance Co. and Amana Cooperative Insurance Co.. Regional players are Salama Insurance (UAE) and AlAhli Takaful.
Does Salama Cooperative Insurance Co. have an API?
No public API is recorded for Salama Cooperative Insurance Co..
What industry is Salama Cooperative Insurance Co. in?
Salama Cooperative Insurance Co.'s product category is Cooperative Insurance. Its primary akta.pro industry code is FSAIANAM, Retakaful (Life & Health), with a secondary code of FSAJAGAJ, Marine Specialty (Hull/P&I/Cargo). Its NAICS code is 52412 and its SIC code is 6331.