Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) Overview
Pro stress-test →Al Rajhi Takaful is a prominent Sharia-compliant insurance provider based in Riyadh, Saudi Arabia. Established in 2008, it has grown rapidly to become one of the largest insurers in the country, holding more than 20% of the motor insurance market. The company is the third largest insurer in Saudi Arabia in terms of premium volume.
Strategic Profile
Pro stress-test →Al Rajhi Takaful puts Sharia compliance at the center of its business model, supported by an Independent Sharia Supervisory Board that reviews all products, contracts, and operational processes to ensure alignment with Islamic law. The company offers a comprehensive range of Takaful solutions across Medical, Motor, Property and Casualty, and Protection and Savings segments.
Competitive Landscape
Pro stress-test →Al Rajhi Takaful is the third largest insurer in Saudi Arabia in terms of premium volume. Primary competitors include other major takaful and conventional insurers in Saudi Arabia such as Saudi Arabian Cooperative Insurance, Bupa Arabia, and Walaa Takaful. The competitive landscape includes both established Sharia-compliant takaful operators and conventional insurers offering Islamic products.
Industry Context
Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) operates in Takaful/Islamic Insurance.
Key facts
Founded: 2008 · Headquarters: Riyadh, Saudi Arabia · Employees: 1,001-5,000 · Revenue: $1.2B