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Solidarity Saudi Takaful Company: Business Overview, Financials & Competitive Analysis

Solidarity Saudi Takaful Company scores 4/10 on the AskCyborg Cyborg Score (Challenged). Acquired Islamic insurance provider with historical takaful exposure but now part of larger regional group. 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.

What is Solidarity Saudi Takaful Company's industry? Solidarity Saudi Takaful Company (solidarity.com.sa) operates in Insurance. AskCyborg classifies Solidarity Saudi Takaful Company under Insurance in its company registry.

Solidarity Saudi Takaful Company offers insurance coverage that complies with Islamic law. The company was established with a fully paid-up capital of SR.250 million, with headquarters in Riyadh. However, the company ...

4/ 10Challenged

Cyborg Score thesis

Acquired Islamic insurance provider with historical takaful exposure but now part of larger regional...

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Industry Insurance
3 named competitors
1 recent developments
11 analyst dimensions
Synthesized from analyst-debate stress-testing across 11 dimensions and hundreds of data points. Methodology →
Cyborg Score recalibrated: November 9, 2026
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What's in This Report
Solidarity Saudi Takaful Company OverviewStrategic ProfileCompetitive LandscapeIndustry ContextKey facts
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Solidarity Saudi Takaful Company Overview

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Solidarity Saudi Takaful Company offers insurance coverage that complies with Islamic law. The company was established with a fully paid-up capital of SR.250 million, with headquarters in Riyadh. However, the company was acquired by AlJazira Takaful Taawuni on January 28, 2021, and is no longer independently traded.

Strategic Profile

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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.

Competitive Landscape

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Solidarity operated in the multi-line insurance sector, competing with other takaful providers in Saudi Arabia. The acquisition by AlJazira Takaful indicates market consolidation among regional Islamic insurance players.

Industry Context

Solidarity Saudi Takaful Company operates in Insurance.

Key facts

Founded: 2010 · Headquarters: Riyadh, Saudi Arabia · Employees: 81

What the AI analysts debated

AI-generated and not independently verified: selected findings from the multi-agent debate on Solidarity Saudi Takaful Company.

  • Acquired by AlJazira Takaful Taawuni in January 2021, ending independent operations
  • Offered Shariah-compliant insurance products across multiple lines including medical and motor coverage
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Recent developments

Material events tracked by the AskCyborg corpus.

  • February 2021Merger with AlJazira Takaful Taawuni completed; Solidarity shareholders received 12,066,403 new AJT shares
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Named competitors

Pulled from the analyst-debate framework. Click any competitor to see their Cyborg Score.

AlJazira Takaful TaawuniSaudi takaful insurance provider; acquired Solidarity in 2021→Cooperative InsuranceMajor Saudi-based insurance provider→Saudi Arabian Insurance CompanyEstablished Saudi insurance provider→

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Industry context

Solidarity Saudi Takaful Company operates in Insurance. See how the rest of the sector scores on the Cyborg framework.

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Frequently asked questions

What does Solidarity Saudi Takaful Company do?+
Solidarity Saudi Takaful Company offers insurance coverage that complies with Islamic law. The company was established with a fully paid-up capital of SR.250 million, with headquarters in Riyadh. However, the company ...
What is Solidarity Saudi Takaful Company's Cyborg Score?+
Solidarity Saudi Takaful Company has a Cyborg Score of 4/10 (Challenged). The score synthesizes business model, financials, leadership, competitive position, technology, marketing, and ESG dimensions across hundreds of data points.
Who are Solidarity Saudi Takaful Company's main competitors?+
Named competitors include AlJazira Takaful Taawuni, Cooperative Insurance, Saudi Arabian Insurance Company. The full competitive landscape is in the AskCyborg report.
How can I get the full Solidarity Saudi Takaful Company research report?+
Get the report plus analyst-debate audio at askcyborg.com -- no credit card required for preview access. Pro adds saved-company audio playlists and monitoring.
How current is the Solidarity Saudi Takaful Company research?+
The Cyborg Score is recalibrated weekly. Recent developments are tracked continuously and surfaced in every report.

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8The Company for Cooperative Insurance6Suncorp Group Limited6Walaa Cooperative Insurance CompanySkyward Specialty Insurance Group