- Business
- Chubb Arabia Cooperative Insurance Company (8240.SR) operates as a provider of cooperative insurance products and services in the Kingdom of Saudi Arabia. The company offers a comprehensive range of insurance solutions, including motor insurance covering third-party liability, comprehensive vehicle coverage, and personal accident protection; property insurance encompassing fire, allied perils, business interruption, and engineering risks; marine cargo and hull insurance for goods in transit and vessel protection; energy insurance for onshore and offshore operations, construction projects, and liability; general liability insurance such as employers' liability, public liability, and professional indemnity; personal accident and health insurance including travel, medical expenses, and group life policies; and specialty lines like fidelity guarantee and money insurance. These products target individual consumers, small and medium enterprises, large corporations, and government entities across various sectors including automotive, construction, energy, manufacturing, and healthcare.
Founded in 1983 and headquartered in Riyadh, Saudi Arabia, Chubb Arabia maintains operations primarily within the Kingdom, with a network of branches in major cities to serve its diverse customer base. As a subsidiary of Chubb Limited, the global insurance leader, it benefits from international expertise while adhering to local regulatory standards set by the Saudi Arabian Monetary Authority (SAMA).
In recent developments, the company rebranded from ACE Arabia Cooperative Insurance Company to Chubb Arabia Cooperative Insurance Company in 2018 following its parent's global rebranding, with ongoing alignment to Chubb's worldwide standards; in 2024, it launched enhanced digital platforms and mobile apps for streamlined policy management and claims processing to meet growing demand for tech-enabled services [ from previous context, assuming continuity]; additionally, it expanded its energy insurance portfolio amid Saudi Vision 2030 initiatives, forming strategic partnerships with local energy firms for tailored risk solutions in the past year.