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Market Scale
Full-year 2025 GWP and market share for Saudi Arabia's 10 largest insurers, from Milliman's independent KSA Insurance Industry Update (Year-End 2025). Tawuniya's and Bupa Arabia's figures are independently confirmed against their own published financial results. Companies outside the top 10 are smaller by GWP, but we don't have a verifiable individual figure for each of them, so we label them "Smaller / Specialist" rather than guess a number.
| # | Company | 2025 GWP (SAR) | Market Share | Tier |
|---|---|---|---|---|
| 1 | Tawuniya | 23.84 bn | 29% | Tier 1 — Market Leader |
| 2 | Bupa Arabia | 20.49 bn | 25% | Tier 1 — Market Leader |
| 3 | Al Rajhi Takaful | 10.57 bn | 13% | Tier 1 — Market Leader |
| 4 | MedGulf | 4.35 bn | 5% | Tier 2 — Established |
| 5 | Walaa Cooperative Insurance | 2.97 bn | 4% | Tier 2 — Established |
| 6 | Arabian Shield Insurance | 2.93 bn | 4% | Tier 2 — Established |
| 7 | Saudi Re | 2.93 bn | 4% | Tier 2 — Established (reinsurer) |
| 8 | Wataniya Insurance | 1.98 bn | 2% | Tier 3 — Top-10, smaller |
| 9 | GIG | 1.59 bn | 2% | Tier 3 — Top-10, smaller |
| 10 | SAICO | 1.25 bn | 2% | Tier 3 — Top-10, smaller |
| — | All other licensed insurers (~13 companies, incl. Malath, Al Sagr, Al-Etihad, ACIG, CHUBB, Mutakamela, Gulf General, Saudi Enaya, UCA, Al Jazira Takaful, Cigna, Amana, LIVA) | ~13% of market, combined | Smaller / Specialist | |
Compare
Every company we have verifiable data on, in one table: market tier, credit rating, and complaints-index position for the three lines we track. "—" means that data point isn't publicly available for that company — not that it's zero or good.
| Company | Market Tier | Credit Rating | Health Complaints Rank /23 | Motor Complaints Rank /23 | Domestic Workers Rank /9 |
|---|---|---|---|---|---|
| Tawuniya | Tier 1 | A (S&P), A (Fitch) | #2 | #1 | #1 |
| Bupa Arabia | Tier 1 | — | #7 | — | — |
| Al Rajhi Takaful | Tier 1 | A3 (Moody's) | #21 | #9 | #8 |
| MedGulf | Tier 2 | BBB (S&P), Ba2 (Moody's) | #20 | #15 | #4 |
| Walaa Cooperative Insurance | Tier 2 | A- (S&P), A- (Fitch), A3 (Moody's) | #10 | #5 | — |
| Arabian Shield Insurance | Tier 2 | A- (Fitch) | #13 | #12 | #5 |
| Saudi Re | Tier 2 | A- (S&P), A2 (Moody's) | — | — | — |
| Wataniya Insurance | Tier 3 | BBB+ (S&P), A- (Fitch) | — | #14 | #7 |
| GIG | Tier 3 | — | #4 | #7 | — |
| SAICO | Tier 3 | A- (Tassnief) | #3 | #18 | — |
| Malath Insurance | Smaller | A- (Tassnief) | #8 | #16 | #2 |
| Al Sagr Insurance | Smaller | — | #1 | #4 | #6 |
| Al-Etihad Cooperative Insurance | Smaller | A3 (Moody's) | #18 | #22 | — |
| ACIG | Smaller | — | #5 | #17 | #3 |
| CHUBB Arabia Cooperative Insurance | Smaller | A3 (Moody's) | — | #2 | — |
| Mutakamela Takaful | Smaller | A3 (Moody's) | #9 | #11 | — |
| Gulf General | Smaller | — | #6 | #19 | — |
| Saudi Enaya | Smaller | — | #22 | — | — |
| United Cooperative Assurance (UCA) | Smaller | — | #23 | #23 | — |
| Al Jazira Takaful | Smaller | — | #11 | #21 | #9 |
| Cigna Healthcare | Smaller | — | #12 | — | — |
| Amana Insurance | Smaller | — | #19 | #20 | — |
| LIVA Insurance | Smaller | Baa2 (Moody's) | — | #8 | — |
| Orient Insurance | Smaller | — | #14 | #6 | — |
| Salama | Smaller | — | #15 | #10 | — |
| Gulf Union Alahlia Cooperative Insurance | Smaller | — | #16 | #13 | — |
| Arabia Insurance (Arabian Cooperative Insurance Co.) | Smaller | — | #17 | #3 | — |
Full detail for each measure — every rating with its source, and the full complaints tables with exact rates and month-on-month change — is below. Ranks are position out of 23 companies (Health, Motor) or 9 companies (Domestic Workers), August 2026 index, lower is better.
Regulatory Data
Complaints submitted to the Insurance Authority per 10,000 insured individuals, August 2026. "Change" is the movement in that rate versus the prior month (a negative number means fewer complaints — improvement). Source: Insurance Authority, Complaints Index submitted to the Insurance Authority in August 2026.
23 companies ranked by complaint rate, lowest (best) to highest.
| # | Insurance Company | Complaints /10,000 | Change |
|---|---|---|---|
| 1 | Al Sagr Insurance | 1.9 | +1 |
| 2 | Tawuniya | 2.5 | -1 |
| 3 | SAICO | 3.4 | +1 |
| 4 | GIG | 3.7 | -1 |
| 5 | ACIG | 4.0 | 0 |
| 6 | Gulf General | 4.6 | +4 |
| 7 | Bupa Arabia | 5.5 | +9 |
| 8 | Malath Insurance | 6.1 | +5 |
| 9 | Mutakamela Takaful | 6.7 | -3 |
| 10 | Walaa Cooperative Insurance | 7.0 | +2 |
| 11 | Al Jazira Takaful | 7.1 | -2 |
| 12 | Cigna Healthcare | 7.1 | -4 |
| 13 | Arabian Shield Insurance | 7.2 | +1 |
| 14 | Orient Insurance | 7.3 | -3 |
| 15 | Salama | 7.6 | -8 |
| 16 | Gulf Union Alahlia Cooperative Insurance | 10.8 | +3 |
| 17 | Arabia Insurance (Arabian Cooperative Insurance Co.) | 10.9 | -2 |
| 18 | Al-Etihad Cooperative Insurance | 11.0 | 0 |
| 19 | Amana Insurance | 11.6 | -2 |
| 20 | MedGulf | 17.3 | 0 |
| 21 | Al Rajhi Takaful | 20.6 | 0 |
| 22 | Saudi Enaya Cooperative Insurance | 28.9 | 0 |
| 23 | United Cooperative Assurance (UCA) | 97.7 | 0 |
23 companies ranked by complaint rate, lowest (best) to highest.
| # | Insurance Company | Complaints /10,000 | Change |
|---|---|---|---|
| 1 | Tawuniya | 1.5 | 0 |
| 2 | Chubb Arabia | 3.6 | 0 |
| 3 | Arabia Insurance (Arabian Cooperative Insurance Co.) | 5.5 | 0 |
| 4 | Al Sagr Insurance | 6.2 | +6 |
| 5 | Walaa Cooperative Insurance | 6.9 | -1 |
| 6 | Orient Insurance | 7.3 | +6 |
| 7 | GIG | 7.5 | -2 |
| 8 | Liva Insurance | 7.9 | -2 |
| 9 | Al Rajhi Takaful | 8.4 | -2 |
| 10 | Salama | 9.6 | -1 |
| 11 | Mutakamela Takaful | 9.6 | -3 |
| 12 | Arabian Shield Insurance | 10.8 | +2 |
| 13 | Gulf Union Alahlia Cooperative Insurance | 12.4 | 0 |
| 14 | Wataniya Insurance | 13.5 | +2 |
| 15 | MedGulf | 14.2 | -4 |
| 16 | Malath Insurance | 15.7 | -1 |
| 17 | ACIG | 17.9 | 0 |
| 18 | SAICO | 19.3 | 0 |
| 19 | Gulf General | 25.2 | 0 |
| 20 | Amana Insurance | 28.5 | 0 |
| 21 | Al Jazira Takaful | 34.1 | 0 |
| 22 | Al-Etihad Cooperative Insurance | 52.0 | 0 |
| 23 | United Cooperative Assurance (UCA) | 267.4 | 0 |
9 companies ranked by complaint rate, lowest (best) to highest.
| # | Insurance Company | Complaints /10,000 | Change |
|---|---|---|---|
| 1 | Tawuniya | 0.7 | 0 |
| 2 | Malath Insurance | 2.6 | 0 |
| 3 | ACIG | 4.2 | 0 |
| 4 | MedGulf | 4.4 | 0 |
| 5 | Arabian Shield Insurance | 6.9 | +3 |
| 6 | Al Sagr Insurance | 7.0 | -1 |
| 7 | Wataniya Insurance | 8.4 | 0 |
| 8 | Al Rajhi Takaful | 10.1 | -2 |
| 9 | Al Jazira Takaful | 12.7 | 0 |
Note: the Authority states that the decrease in complaints for two companies reflects a pilot electronic-integration program that lets those companies resolve complaints directly before escalation — not necessarily an improvement in underlying service across the board. We'll continue to publish this index monthly as new editions are released.
Compare
Confirmed facts about each broker's presence in Saudi Arabia, grouped by category. "Entry" is the regulatory milestone or public launch date reported in the cited source for the Saudi entity specifically — not necessarily the firm's first contact with the market. "—" means the figure isn't publicly available from a source we could verify, not that it's zero.
| Broker | Category | Saudi Market Entry | Global Scale (self-reported) |
|---|---|---|---|
| Marsh | Global Corporate | Regulatory approval reported 2 Mar 2011, under KSA's 2003 Insurance Law; two licensed entities (Marsh Saudi Arabia Insurance and Reinsurance; Marsh Insurance Consulting Saudi Arabia) | 130+ countries; 45,000+ colleagues worldwide (Marsh, the broking business — not parent Marsh McLennan) |
| Aon | Global Corporate | SAMA broker license, 27 May 2008 | 120+ countries (aon.com); ~66,000 colleagues per Aon's 2024 Annual Report (Form 10-K) |
| WTW | Global Corporate | KSA insurance broker license, announced 28 Oct 2024 | Operates in 140 countries/markets |
| Lockton | Global Independent | Market launch, 10 Nov 2025 (team of 20 specialists) | 13,100+ Associates in 155+ countries; self-described as the world's largest privately held independent insurance broker |
| Chedid | Regional | Established 2012 (IA License No. 69/201310), founded by Abdulmonen AlRashed with Chedid Capital Holding | Network employs 300+ professionals across the Middle East & Africa |
| NASCO | Regional | Entry date not independently verified | Part of Nasco Insurance Group (regional MENA network) |
| Howden | Reinsurance broker | Howden Reinsurance Brokers KSA launched, reported 26 Jun 2025 — CEO Motaz Bukhari | Howden Group's 56th country of operation |
Important distinction: Howden's Saudi Arabia license and 2025 launch cover reinsurance broking only (treaty and facultative placements) — it is not currently licensed for the retail/commercial insurance broking that Marsh, Aon, WTW, Lockton, Chedid, and NASCO operate in. We've kept it in this directory because it's a major global broking group with a confirmed Saudi presence, but it isn't a like-for-like competitor to the others above for placing a company's own commercial insurance program.
The Saudi brokerage market also includes numerous Saudi-licensed local and digital brokers — for example Deraya, Saudi Alliance Insurance Brokers, and Al Asalah Insurance Broker — that aren't yet in this directory because we don't yet have verifiable, comparable entry and license data for each. We'll add them as that data is confirmed.