Al Etihad Cooperative Insurance Co

What Al Etihad Cooperative Insurance Co does

Al Etihad Cooperative Insurance Co. is a Saudi public joint-stock cooperative insurer listed on Tadawul (symbol 8170), incorporated in Saudi Arabia with a paid-up capital of SAR 500 million and roots in an Al-Etihad Commercial Company branch established in Bahrain in 1983 before its 2008 IPO. The company is authorized by the Saudi Insurance Authority to transact in all insurance categories — general, medical, motor, and protection & savings — and operates a Sharia-compliant product set overseen by a dedicated Sharia Supervisory Board with annual compliance reports since 2021. Its portfolio spans motor, medical and health, property, engineering and construction, marine, general accidents, medical malpractice, travel, visitor, drone, athletes' health, professional indemnity and extended warranty lines, plus a 2024-launched Expatriate Worker Wage Insurance product co-developed with the Ministry of Human Resources and Social Development.

The company's technology stack is built around Sharia-compliant insurance workflows delivered through a corporate website, three transactional portals (es.aletihad.sa for motor/medical self-service, labor.aletihad.sa for expatriate worker coverage and claims, asasonline.aletihad.sa for motor policy issuance and geographic extension) and the AL-ETIHAD iOS/Android mobile application. Core medical claims and approvals are outsourced to GlobeMed Saudi Arabia, while motor records, discount eligibility and accident inquiries are routed through Najm; expatriate worker beneficiary verification uses Absher, and medical policy validation is exposed via the Council of Cooperative Health Insurance (CCHI). No AI/ML capabilities, proprietary models or data flywheel mechanisms are disclosed.

Al Etihad serves two primary customer segments — individuals (motor, medical, travel, property, warranties) and corporate/Business entities (group medical, motor fleets, workers comp, engineering, marine, professional indemnity) — plus a third, regulatorily-captured segment of expatriate workers. Distribution is multi-channel: regional headquarters in Dhahran with regional offices in Jeddah and Riyadh, 11+ point-of-sale and claim locations across Saudi Arabia, agent offices, a 50+ approved motor workshop network, toll-free call centers (800 3040 110 general; 920002065 medical), WhatsApp support, and the digital channels above. Revenue is generated primarily through recurring insurance premiums (subscription-based for motor, medical, general accidents, expatriate worker and medical malpractice lines) and one-time premiums for property, travel, marine, engineering and extended warranty products.

Name

Al Etihad Cooperative Insurance Co

Legal name

Al-Etihad Co-operative Insurance Co.

Website

https://aletihad.sa

Company type

Public

Founded year

1983

Operating status

Operating

Headcount range

251–500 employees

Short description

Saudi-listed cooperative insurer (Tadawul: 8170) offering multi-line Sharia-compliant insurance — motor, medical, property, marine, engineering, travel and specialty lines. Serves individuals, corporates and expatriate workers nationwide via branches, agents and digital portals.

Ownership category

akta.pro rank

Product category

Cooperative Insurance

NAICS

Insurance Carriers and Related Activities (524), Insurance Carriers (5241), Direct Life, Health, and Medical Insurance Carriers (52411), Direct Health and Medical Insurance Carriers (524114), Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

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

akta.pro primary industry

Embedded Insurance & Affinity Distribution Platforms (FSAGAGAL)

akta.pro secondary industries

International/Expatriate Individual Health Insurance (FSAIAEAH), Management Liability (D&O/EPL/Fiduciary) (FSAJAGAD), Group AD&D (Standalone or Bundled with Life) (FSAIADAG)

Keywords

• Cooperative insurance services
• Motor vehicle insurance
• Medical health insurance
• Sharia compliant insurance
• Property casualty insurance

Headquarters

HQ city

Dhahran

HQ country

Saudi Arabia

HQ region

Middle East

Offices12 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Premiums - Motor/Vehicle: Revenue from motor vehicle insurance policies including comprehensive and third-party coverage. Premiums collected from individual and corporate customers with options for policy renewal and cancellation.
2. Insurance Premiums - Medical/Health: Revenue from health insurance policies covering large, medium, and small groups, compliant with Saudi Insurance Authority regulations. Includes individual and corporate medical coverage.
3. Insurance Premiums - Property: Revenue from property insurance including fire, theft, and natural disaster coverage for owned or rented properties and contents.
4. Insurance Premiums - Travel: Revenue from travel insurance policies providing coverage for medical emergencies, passport loss, luggage delay, flight delays, and legal expenses.
5. Insurance Premiums - Marine: Revenue from marine insurance covering goods during transit (sea, air, land), cargo insurance, and ship hull insurance.
6. Insurance Premiums - Engineering: Revenue from engineering and construction insurance covering contractor all risks, installation risks, equipment, and machinery breakdown.
7. Insurance Premiums - General Accidents: Revenue from workers compensation, employer liability, professional indemnity, personal accident, and other general accident insurance products.
8. Insurance Premiums - Expatriate Worker Rights: Revenue from insurance product covering expatriate workers' unpaid wages and entitlements when private sector employers default, launched in partnership with Ministry of Human Resources.
9. Extended Warranty - Vehicles and Appliances: Revenue from extended warranty policies for vehicles and household appliances providing coverage after manufacturer's warranty expires.
10. Medical Malpractice Insurance: Revenue from professional liability insurance protecting medical practitioners from legal claims arising from medical errors.

Pricing tiers

Go-to-market motion2 records

Distribution channels9 records

Marketing channels5 records

Core offering

Al Etihad Cooperative Insurance Co is a Saudi-listed cooperative insurer (Tadawul: 8170) that underwrites and distributes a broad portfolio of Sharia-compliant insurance policies across motor, medical/health, property, engineering and construction, marine cargo and hull, general accidents and liability, medical malpractice, travel, visitor/tourism, householders, expatriate worker wage protection, drone, athletes health, professional indemnity and extended warranty product lines. It serves both individual consumers and corporate clients through regional offices in Jeddah and Riyadh, point-of-sale locations across the Kingdom, agent offices, call centers, online portals (es.aletihad.sa, labor.aletihad.sa, asasonline.aletihad.sa) and a mobile application, supported by GlobeMed for medical claims and the Ministry of Human Resources and Social Development for the expatriate worker rights product.

Product overview

Al Etihad Cooperative Insurance Co is a Saudi-listed cooperative insurance company (Tadawul: 8170) offering a broad portfolio of insurance products. The company operates as a multi-line insurer authorized to deal in all types of insurance (general, medical, motor, and protection and savings). The product portfolio includes: Motor Insurance, Medical & Health Insurance, Property Insurance, Engineering & Construction Insurance, Marine Insurance, General Accidents & Liability Insurance (encompassing workers compensation, public liability, personal accident), Medical Malpractice Insurance, Travel Insurance, Visitor & Tourism Insurance, House Holders Insurance, and specialized products such as Expatriate Worker Wage Insurance, Drone Insurance, Athletes Health Insurance, Marine Hull & Machinery Insurance, Professional Indemnity products, and extended warranty add-ons for vehicles and white goods. The company serves both individual and corporate customers through multiple channels including online portals, mobile apps, branch offices, and agents. The various products are sold as independent insurance policies rather than modules of a unified platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Motor Insurance Comprehensive and third-party motor vehicle insurance covering damages to the insured vehicle and third parties, with optional replacement vehicle coverage during repair periods; available to individuals and corporate fleet customers.
• Medical & Health Insurance Health insurance programs for large, medium and small groups, compliant with Saudi Insurance Authority and CCHI regulations; covers individual and corporate customers with approvals and claims managed via GlobeMed Saudi Arabia partnership.
• Property Insurance (including House Holders Insurance) Insurance coverage for owned or rented properties and contents against fire, theft and natural disasters; includes homeowners insurance, fire and perils coverage, business interruption insurance, and dedicated house holders insurance for private residential properties.
• Engineering & Construction Insurance Coverage for construction projects, contractors' all-risks, erection all-risks, contractor equipment, machinery breakdown, electronic equipment, and boiler/pressure vessels; targeted at construction companies, contractors and engineering project owners.
• Marine Insurance (Cargo and Hull & Machinery) Marine cargo insurance for goods in transit by sea, air, rail or road, plus hull and machinery insurance for vessels (including pleasure craft) against collision and third-party liability; targeted at importers, exporters and ship owners.
• General Accidents & Liability Insurance Programs covering workers' compensation, employers' liability, public liability, products liability, professional indemnity, personal accident, travel insurance, extended warranties and cyber liability for individual and corporate customers.
• Medical Malpractice Insurance Professional liability insurance protecting medical practitioners from legal liability arising from medical errors; coverage available for up to three years with customizable limits, targeted at doctors, hospitals and healthcare providers.
• Travel Insurance (Traveler, Pearl and Family programs) Travel insurance covering medical emergencies, passport/identity loss, flight delays and legal expenses; available in three programs (Traveler, Pearl, Family) with tiered delay compensation, targeted at Saudi residents traveling abroad.
• Visitor & Tourism Insurance Health insurance for visitors and tourists to Saudi Arabia, providing healthcare services during their visit; accessible via the dedicated online visitor portal (asasmedcore.aletihad.sa/asasonline.aletihad.sa).
• Expatriate Worker Wage Insurance Insurance product for non-Saudi employees in private sector establishments, launched in partnership with the Ministry of Human Resources and Social Development to protect their wages and entitlements when employers default; covers up to 6 months of unpaid wages, return ticket (up to SAR 1,000), and maximum compensation of SAR 17,500 per establishment, with coverage check and claims submission through the labor.aletihad.sa portal and Absher verification.
• Extended Warranty (Vehicles and White Goods) Extended warranty plans covering repair costs for material defects or manufacturing faults after the original manufacturer warranty expires, covering both vehicles and household electronic appliances against mechanical breakdown or accidental damage.
• Drone Insurance Insurance coverage for drones and unmanned aerial vehicles against physical damage and liability risks.
• Athletes Health Insurance Health insurance coverage tailored for athletes, providing medical coverage for sports-related injuries and healthcare needs.
• Professional Indemnity Insurance for Architects, Civil Engineers, Valuators and Assessors Professional liability insurance protecting architects, civil engineers and accredited valuators/assessors from financial losses incurred by third parties due to professional errors, omissions or incorrect advice.

Quantifiable outcome

• Insurance document issuance within minutes
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature4 records

Partnerships

Five partnerships are on record, tiered core.

• GlobeMed Saudi ArabiacoreTechnology or IntegrationStrategic partnership with GlobeMed Saudi Arabia for managing medical approvals and claims. This partnership provides customers with faster and easier experience for medical insurance services, handling both approvals and claims through integrated systems.
• Dar Al Murahama Sharia Review (دار المراجعة الشرعية)coreStrategic or Co-development PartnerPartnership with Dar Al Murahama Sharia Review to ensure Sharia compliance across all products and operations. The firm provides guidance on Islamic finance principles, product structuring, and ongoing compliance monitoring. Dar Al Murahama has over 37 Sharia advisors across 16+ countries and is licensed by Central Bank of Bahrain.
• Ministry of Human Resources and Social Development (MoHRE)coreStrategic or Co-development PartnerPartnership with Ministry of Human Resources and Social Development for the Expatriate Worker Rights Insurance product, launched to protect expatriate workers' wages and entitlements when private sector employers default. The product ensures compliance with Saudi labor regulations.
• Council of Cooperative Health Insurance (CCHI)coreStrategic or Co-development PartnerPartnership with Council of Cooperative Health Insurance for medical insurance inquiry services and compliance with Saudi health insurance regulations.
• Saudi Insurance Authority (IA)coreStrategic or Co-development PartnerRegulatory oversight and compliance partnership with Saudi Insurance Authority (هيئة التأمين) for all insurance operations.

Scale indicators4 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Al Sagr Cooperative Insurance: Saudi cooperative insurer operating across motor, medical, and general P&C lines. Competes with Al Etihad in the Saudi multi-line cooperative insurance market with similar Sharia-compliant product positioning and Saudi retail/SME customer base.
• Saudi National Insurance Company (SNIC): Saudi insurer offering motor, medical, property, engineering, marine, and general accident insurance. Directly comparable multi-line portfolio serving Saudi individuals and corporates, overlapping with Al Etihad's core underwriting lines.
• Walaa Cooperative Insurance: Listed Saudi cooperative insurer (Tadawul: 8060) writing motor, medical, property, marine, engineering, and general accident lines — a near-identical product footprint to Al Etihad's and a head-to-head competitor across Saudi multi-line commercial and individual segments.
• The Company for Cooperative Insurance (Tawuniya): Saudi Arabia's largest listed cooperative insurer (Tadawul: 8010), offering motor, medical, property, engineering, and general P&C lines. Directly competes with Al Etihad across the multi-line Saudi cooperative insurance market, with materially larger scale and capital base.
• Bupa Arabia for Cooperative Insurance: Leading Saudi cooperative health/medical insurer (Tadawul: 8210), a direct competitor in Al Etihad's largest medical and group-health insurance segment. Specializes in health but also overlaps with Al Etihad in CCHI-mandated employer-sponsored coverage.
• Salama Cooperative Insurance: Saudi cooperative insurer (Tadawul: 8050) offering motor, medical, property, engineering, marine, and general accident insurance. Directly comparable multi-line product mix and target customer segments (individuals, SMEs, corporates) to Al Etihad.
• Gulf General Cooperative Insurance: Saudi cooperative insurer (Tadawul-listed) offering motor, medical, property, and general accident lines. Comparable in scale and multi-line product mix to Al Etihad, competing for similar individual and SME customers across Saudi Arabia.
• United Cooperative Assurance (UCA): Saudi cooperative insurer (Tadawul: 8180) writing motor, medical, property, marine, and general P&C lines. Overlaps directly with Al Etihad in cooperative multi-line underwriting for Saudi individuals and corporates.

Emerging players

• Saudi Enaya Cooperative Insurance: Smaller Saudi cooperative insurer with a more limited multi-line footprint, primarily competing with Al Etihad in the Saudi individual and SME motor and medical segments. Comparable in scale and target customer profile.

Broad incumbents

• Mediterranean & Gulf Insurance & Reinsurance (Medgulf): Established Saudi/GCC insurance and reinsurance group offering motor, medical, property, marine, and engineering lines. Overlaps with Al Etihad's multi-line offering but operates as a broader incumbent across the wider MENA region.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/AlEtihadInsCare
• LinkedInlinkedin.com/company/aletihadins

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 Al Etihad Cooperative Insurance Co