Solidarity Saudi Takaful Company — Cyborg Score 4/10
Challenged
Insurance
Strategic Profile
The company offered coverage for major lines of business including Medical, Motor Vehicle, Property, Marine, Engineering, General Accident, Liability and Group Life Insurance. As a Shariah-compliant insurance provider in Saudi Arabia, Solidarity competed in the regional takaful market but has since been consolidated into the larger AJT organization.
Cyborg Score Rationale
The company was acquired and merged in early 2021, making it no longer an independent operating entity. Limited recent financial data is available, and the acquisition itself signals potential competitive or operational challenges that led to consolidation.
Top Insights
Acquired by AlJazira Takaful Taawuni in January 2021, ending independent operations
Offered Shariah-compliant insurance products across multiple lines including medical and motor coverage
Was headquartered in Riyadh with regional branches in Jeddah and Khobar
Served both individual and corporate customers in the Saudi Arabian market
Named Competitors
AlJazira Takaful Taawuni — Saudi takaful insurance provider; acquired Solidarity in 2021
Cooperative Insurance — Major Saudi-based insurance provider
Saudi Arabian Insurance Company — Established Saudi insurance provider
Recent Developments
(February 2021) Merger with AlJazira Takaful Taawuni completed; Solidarity shareholders received 12,066,403 new AJT shares
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