AlAlamiya Cooperative Insurance Company
Head Office Location:
Office No 203
2nd floor, Abdullatif Building
4710 Prince Muhammad Bin Abdulaziz Rd
As Sullimaniyah, Riyadh
Zip code 12243 6934
P.O.Box 6393, Riyadh
Zip Code 11442
Customer Service No: 9200 15432
International Dial in: +966 11 465 1520
Fax No: +966 11 464 5457
For inquiries, please contact
Central Region Director
AlAlamiya Cooperative Insurance Company
AlAlamiya is a publicly listed company in the Saudi Stock Exchange (Tadawul) with a paid up capital of SAR 400,000,000 and is a licensed insurance company fully operating on Taawuni Sharia principles under the regulations of the Saudi Arabian Monetary Authority (SAMA). Our balanced portfolio management had lead us to be one of the top 10 leading insurance companies in Saudi Arabia posting solid growth in profitability reaching annual profits of SAR 44.4 million (approx. US $12 million) in 2017.
We provide a large range of general insurance products for both corporate and individual clients including motor, property, medical, casualty, and engineering.
AlAlamiya Financials Shareholders
AlAlamiya Insurance Company was founded in 1976 and registered in Bahrain by the UK based Sun Alliance Insurance Group. In 2009 AlAlamiya Cooperative Insurance Company was established as per the New Insurance Law in KSA and after the formation of SAMA accordance with the Council of Ministers Resolution No. 5 dated 05/01/2009 and in accordance with the Royal Decree No. M/2 dated 06/01/2009 to carry of the activity of co-operative insurance. We are also proud to be part of Riyad Bank, one of the leading Saudi Bank’s investments.
Royal & Sun Alliance Middle East Limited with total shares of 50.07%
Riyad Bank with total shares of 19.92%
Group of Reputable Saudi Investors with total shares of 00.01%
Saudi Public with total shares of 30.00%
Going back to 1706, Royal & Sun Alliance is one of the oldest running insurance companies in the world. With over 300 years of experience, being part of RSA International Group allows us to provide our customers with the following benefits:
Bring international expertise, standard, security and professionalism to fast developing market
Provide underwriting and risk management solutions to our clients and brokers
Provide tailor made packages derived from our long experience in insurance market worldwide
RSA Group Financial Position
RSA (London Stock Exchange) operates in over 100 countries worldwide focusing on general insurance, we have around 14,000 employees, and in 2016 our NWP was £6.7 billion
2017 operating profits of £663 million
AlAlamiya has built an extensive suite of over 40 insurance products. To highlight, the following are the most popular available covers:
In growing their business, many organisations acquire offices, showrooms, factories, etc., to protect their assets against perils and burglary, AlAlamiya offers “Property All Risk” policies to insure against named perils such as fire and lightning, burglary, explosions, impact by vehicles, natural perils such as storms, tempests, earthquakes, floods and hail. In addition, the cover could extend to include business interruption and liabilities towards landlords and neighbours.
Many organisations own fleets of vehicles to transport their goods and cars for their staff to conduct their day to day business. Not only do these represent a large share of the company’s assets, and it is important to protect them, it is obligatory by the government to have all vehicles insured. AlAlamiya offer all types of fleet insurance programs to cover your fleet needs. From Third Party Liability only to special vehicle applications, a tailor made cover for your vehicles can be designed.
Marine Cargo Insurance
In spite of the sophistication of today’s logistics and transport service providers, accidents still happen. Loss and damage during transit, loading and unloading are more frequent than we think. That is why it is imperative to protect your shipped goods by obtaining Marine Cargo Insurance whether it is under documentary credit such as a Letter of Credit or purchased directly. AlAlalmiya can help you protect your goods whether they are being shipped by land, sea, or air within or outside of the Kingdom of Saudi Arabia against damage caused by transport risk and theft.
In today’s era, all financed projects must be insured to protect contractors and project stakeholders against all possible risks during construction until project completion and delivery. That is why AlAlamiya presents its Contractor All Risk (CAR), Erection All Risk (EAR), and Contractors Plants & Machinery (CPM) covers as part of its Engineering Insurance product line. Such covers protect stakeholders against accidents, bodily injuries to workers, theft of equipment, etc. More importantly, paid claims can help put the project back on track to completion with little interruptions.
Under the governance of the Council of Cooperative Health Insurance, it is mandatory that all citizens and residents in Saudi Arabia receive medical treatment. Therefore, it is imperative for organisations of today to provide adequate health insurance coverage to their employees. AlAlamiya is keen in providing medical insurance coverage for companies looking for the best possible service for their employees. Using the best medical network service providers and automated approval systems, AlAlamiya is dedicated to offering easy and accessible insurance coverage to registered employees to get the best medical treatment they need without delay.
Group Life Insurance
Many organisations are concerned for the welfare of their employees’ families, especially if the employee passes away. That is why many organisations are opting to provide Life Covers to their employees as a multiple of salaries in the event of death or disability. AlAlamiya can help setup such cover whether as an independent policy or part of the organisations employee savings plans.
Our panel of service members and technical experts are at your service and looking forward to working with you to provide the right covers you need to make sure your business and you are protected from unforeseen financial losses.