Arabian Shield Cooperative Insurance Company
8070.SR
Saudi Exchange11.96
SAR
+0.11
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Arabian Shield Cooperative Insurance Company
8070.SR
(Saudi Exchange)
Recent
price
11.96
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Arabian Shield Cooperative Insurance Company is a Saudi Arabia-based insurance provider engaged in offering a broad range of insurance products and services. The company’s core offerings include motor insurance covering comprehensive and third-party liability plans; property insurance protecting against risks and loss of profit; engineering insurance addressing contractors' risks, installation risks, and machinery breakdown; marine insurance including cargo coverage for goods in transit; medical insurance comprising health, medical malpractice, and personal accident coverages; travel insurance; and protection and savings insurance products that include life insurance, group credit insurance, retirement, and investment protection plans. These products serve both individual customers and corporate clients within the Kingdom of Saudi Arabia. Arabian Shield also provides claim settlement services and emphasizes compliance with Shariah principles in its insurance offerings. Founded in 2007 and headquartered in Riyadh, Arabian Shield operates as a Saudi public joint-stock company licensed by the Saudi Arabian Monetary Agency (SAMA). The company recently completed a significant merger with AlAhli Takaful Company, expanding its market presence and enhancing its product portfolio. This merger involved the issuance of new shares to AlAhli Takaful shareholders and integration of operations under the Arabian Shield brand, strengthening its position in the Saudi cooperative insurance sector. Additionally, in early 2024, its strategic shareholder Tokio Marine Holdings concluded the sale of its stake, marking a key change in ownership structure. Arabian Shield also secured a license renewal from Saudi Arabia's Insurance Authority valid through 2028, ensuring its continued operation under regulatory standards. Arabian Shield's business segments span medical, motor, property, engineering, marine, liability, accident insurance, and protection and savings insurance, serving diverse market needs. The company is distinguished by its comprehensive product suite, including specialized offerings such as craftsmen insurance, extended visit visa insurance, and Shariah-compliant motor insurance with customizable plans. It supports its clients with 24/7 bilingual customer service and flexible payment options, positioning itself as a responsive, customer-centric insurer in Saudi Arabia. The company maintains a commitment to community engagement and responsible business practices, targeting private individuals, SMEs, and corporate customers primarily within Saudi Arabia. The merger with AlAhli Takaful and operational expansions reflect its strategy to consolidate market share and enhance product innovation in a competitive, evolving insurance market. Arabian Shield Cooperative Insurance Company continues to evolve with a focus on broadening its insurance coverages, improving financial resilience, and delivering tailored solutions to meet the needs of the Kingdom’s growing insurance demand landscape. It remains a key player in the Saudi insurance industry with ongoing regulatory compliance and a strategic growth agenda.