Salama Cooperative Insurance Company Overview
Pro stress-test →Salama Cooperative Insurance Company is a Saudi Arabia-based joint stock company providing Shariah-compliant (Takaful) insurance solutions. Operating since its 2006 establishment in Saudi Arabia with roots tracing to 1979, the company delivers comprehensive coverage across motor, medical, travel, and general insurance segments to both individual and institutional customers throughout the MENA region.
Strategic Profile
Pro stress-test →Salama positions itself as a pioneering Takaful operator with multi-regional footprint across six direct subsidiaries in the UAE, Saudi Arabia, Egypt, Senegal, Algeria, and Jordan, plus a Re-Takaful company in Tunisia. The company leverages its first-mover advantage as one of the earliest cooperative insurance providers under Saudi regulations and maintains strong competitive positioning through diversified product offerings and institutional presence in a growing Islamic finance market.
Competitive Landscape
Pro stress-test →Salama operates in Saudi Arabia's competitive insurance market alongside established players like Tawuniya, Arabian Shield Cooperative Insurance, Malath Cooperative Insurance, and newer entrants. The company's Takaful focus differentiates it from conventional insurers, though major players increasingly offer Sharia-compliant products. Regional Takaful competitors include Alinma Tokio Marine and AFG International in the broader MENA market.
Industry Context
Salama Cooperative Insurance Company operates in Cooperative Insurance / Takaful.
Key facts
Founded: 2006 · Headquarters: Jeddah, Saudi Arabia · Revenue: $141M · Market cap: $113M