Walaa Cooperative Insurance Company Overview
Pro stress-test →Walaa is a leading Saudi cooperative insurer licensed by SAMA since 2008, offering Shariah-compliant Motor, Retirement, and Travel Takaful solutions through its mobile app, e-portal, and nationwide branches. The company operates as a public joint-stock entity with fully paid-up capital of SAR 850 million, serving customers across Saudi Arabia's insurance market.
Strategic Profile
Pro stress-test →Headquartered in Al-Khobar with three regional offices and more than 70 retail offices nationwide, Walaa has established a strong distribution footprint. The company holds an A- Insurance Financial Strength Rating from S&P Global Ratings and gcAAA GCC regional scale credit rating, both with stable outlook, positioning it as a financially sound competitor in the Saudi takaful insurance sector.
Competitive Landscape
Pro stress-test →Walaa competes in Saudi Arabia's crowded Takaful insurance market against established operators including Alrajhi Takaful, Aljazira Takaful, SABB Takaful, and Solidarity Saudi Takaful. Unlike pure conventional insurers, Walaa's Shariah-compliant focus positions it within the growing Islamic insurance segment, competing on digital innovation, product breadth, and distribution reach rather than pricing alone.
Industry Context
Walaa Cooperative Insurance Company operates in Takaful Insurance.
Key facts
Founded: 2007 · Headquarters: Al-Khobar, Saudi Arabia