Daman Insurance Brokers

What Daman Insurance Brokers does

Daman Insurance Brokers is a Riyadh-headquartered insurance brokerage operating as the Saudi Arabian subsidiary of Associated Alliance Incorporated, a diversified MENA holding group founded in 2001. The company delivers five core service lines: Insurance Services (brokerage placement across commercial and personal lines), Risk Management (assessment, advisory, and mitigation planning), Reinsurance Solutions (placement of complex or large risks with reinsurers), Employee Benefits (group medical, life, and assistance programs), and Travel Insurance. Its delivery model is direct-advisory: brokers engage corporate clients one-to-one, supported by the parent group's network of 11 subsidiaries spanning 9 countries (Lebanon, UAE, Egypt, Saudi Arabia, Oman, Jordan, Kuwait, Bahrain, Qatar) and over 25 years of carrier relationships through leading international brokerage networks.

The business generates revenue primarily through brokerage commissions on placed insurance and reinsurance, supplemented by advisory fees for risk management and claims advocacy services. Go-to-market is B2B and relationship-driven, targeting corporate clients, trading and logistics firms, directors and officers facing personal liability exposure, and regional businesses navigating geopolitical, political violence, and cyber risks. Customer acquisition relies on direct enterprise engagement through the subsidiary network, thought leadership via an active blog (covering D&O in KSA, refrigerated cargo, regional safety updates, and war risk impacts), and referrals within the MENA corporate ecosystem. The parent group collectively supports 500+ businesses with a portfolio exceeding 10,000 policies and participates in brokerage networks with USD 52 billion in combined gross written premium, providing Daman with carrier access and cross-border reach disproportionate to its standalone headcount of 11-50 employees.

Name

Daman Insurance Brokers

Legal name

Daman Insurance Brokers

Website

https://associatedalliance.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

11–50 employees

Short description

Daman Insurance Brokers is a Riyadh-based insurance brokerage and Saudi subsidiary of the MENA-wide Associated Alliance Group, providing insurance placement, risk management, reinsurance, employee benefits, and travel insurance to corporate clients across the region.

Ownership category

akta.pro rank

Product category

Insurance Brokerage

NAICS

Insurance Agencies and Brokerages (52421), Insurance Agencies and Brokerages (524210), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411), Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

P&C Reinsurance Brokerage (FSAOAHAG)

akta.pro secondary industries

Mid-Market Commercial Package (Package Policies) (FSAJAFAB), Travel Insurance Coordination (HSACAKAI)

Keywords

• Insurance brokerage
• Risk management
• Reinsurance services
• Employee benefits
• Commercial insurance

Headquarters

HQ city

Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales

Distribution channels2 records

Marketing channels4 records

Core offering

Daman Insurance Brokers is a Saudi Arabia-based insurance brokerage and subsidiary of Associated Alliance Incorporated, providing insurance placement, risk management advisory, reinsurance solutions, employee benefits administration, and travel insurance to corporate clients. Services are delivered through the Associated Alliance group network spanning 9 countries across the Middle East and North Africa region.

Product overview

Daman Insurance Brokers operates as part of the Associated Alliance group, providing a comprehensive suite of insurance and risk management services. The company offers five core service lines: Insurance Services (direct brokerage placement), Risk Management (advisory and assessment), Reinsurance Solutions (for complex risks), Employee Benefits (group health and wellness programs), and Travel Insurance. These services are delivered through the group's network across the Middle East and North Africa, supporting both commercial and individual clients.

Differentiator

Problem solved

Functional benefit

Products and services

• Insurance Services

Quantifiable outcome

• Supports over 500 businesses worldwide with portfolio exceeding 10,000 policies

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators6 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• Marsh: Global insurance and risk advisory broker with a long-standing Middle East practice (offices in KSA, UAE, Qatar, etc.). Directly competes with Daman for large corporate and cross-border placements across P&C, marine, D&O, cyber and political risk in the same MENA markets.
• Willis Towers Watson (WTW): Global advisory and insurance brokerage firm with significant MENA presence. Overlaps directly with Daman in commercial brokerage, risk management advisory, and reinsurance placement for large corporate accounts across the region.
• Howden: Specialty-focused insurance broker with active expansion across the Middle East. Competes with Daman particularly in specialty and reinsurance lines — marine, political violence, D&O and cyber — where Howden has built scale outside traditional placement.
• Lockton: Largest independent global insurance broker, with MENA operations covering KSA and UAE. Competes with Daman for enterprise risk advisory, large commercial placements and reinsurance broking for clients operating in the region.
• Aon: Global insurance broker and risk advisor with established MENA offices. Competes with Daman across commercial P&C, reinsurance brokerage, employee benefits and specialty risk advisory for enterprise clients in KSA and the wider GCC.
• Arthur J. Gallagher & Co. Global insurance brokerage and risk management firm operating across the Middle East. Directly competes for mid-market and large corporate insurance placements and reinsurance solutions, with comparable advisory-led positioning.

Regional players

• Chedid Re: MENA-rooted reinsurance broker headquartered in Lebanon with regional offices. Comparable as a regional reinsurance intermediary for MENA cedents, operating alongside Daman/Synergy Re within the same regional ecosystem.
• Trust International Insurance & Reinsurance Company (Bahrain): MENA-based insurance and reinsurance group operating across the Gulf. Competes regionally with Daman for commercial, specialty and reinsurance placements, with a similar focus on corporate and cross-border MENA clients.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/daman-insurance-brokers

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 Daman Insurance Brokers