Allied Cooperative Insurance Group — Cyborg Score 4/10
Mixed
Insurance - Cooperative (General & Health Insurance)
Strategic Profile
Operating through Medical Insurance, Motor Insurance, Property Insurance, Engineering Insurance, and Other Insurance segments, the company maintains a diversified portfolio serving both individual and corporate customers. ACIG is a well-established player in the Saudi insurance market with a network of regional branches supporting its distribution strategy.
Cyborg Score Rationale
ACIG operates in a competitive Saudi insurance market with low volatility but faces headwinds indicated by negative net income in 2023 and underperformance relative to the SA Insurance industry. The company has a P/E ratio of 7.8x below the SA market average and underperformed the insurance industry which returned 21.5% while slightly exceeding the broader SA Market.
Top Insights
Diversified insurance portfolio across medical, motor, property, engineering, and marine segments reduces revenue concentration risk
Revenue declined 8.4% YoY to $238.8M in 2023 with significant net income deterioration of -126%, signaling operational challenges
Market cap of SAR 375M is relatively small within the Saudi insurance sector, limiting competitive scale advantage
Founded in 2007, the company has been operating for nearly two decades with established market presence and brand recognition
Named Competitors
Tawuniya Insurance — Established Saudi cooperative insurer offering comprehensive insurance solutions
Salama Insurance — Major Saudi insurer with diversified product portfolio
Arabian Shield Insurance — Competitive Saudi insurer in motor and property segments
Recent Developments
(Jan 2026) Stock trading at SAR 7.89 with 52-week range of 7.31-19.00
(2023) Revenue $238.8M with significant profitability decline
(2023) Net income deteriorated 126% YoY, indicating operational challenges
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