SABB Takaful has been merged into Walaa Cooperative Insurance (October 2022), with all assets and liabilities transferred to Walaa. The company historically competed in Saudi Arabia's takaful insurance market with travel insurance, life protection, and general coverage offerings.
Cyborg Score Rationale
SABB Takaful ceased operations as an independent entity in October 2022 following merger completion with Walaa. No current operations, financial metrics, or strategic initiatives exist under the SABB Takaful brand.
Top Insights
Company merged with Walaa Cooperative Insurance and ceased operations in October 2022
Previously offered comprehensive takaful products: individual/group family protection, savings, and general coverage
Had strategic partnerships including Saudi Arabian Airlines for travel insurance (timing unspecified)
Faced regulatory restrictions in 2017 for internal control deficiencies, later recovered before merger
Named Competitors
Walaa — Cooperative insurance provider; acquired SABB Takaful in October 2022
Al Rajhi Takaful — Islamic insurance and takaful products in Saudi Arabia
Tawuniya — Major cooperative insurance provider in Saudi Arabia
Allianz Saudi Fransi — International insurance company operating in Saudi Arabia
Recent Developments
(February 2022) Saudi Central Bank (SAMA) approved merger with Walaa Cooperative Insurance
(October 2022) Merger completion effective; SABB Takaful shares canceled and converted to Walaa shares for original shareholders
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