Page 65 - 33rd Edition GAIF Pre-Conference May 2022 Issue 606

MENA INSURANCE COS RANKED BY PREMIUM WRITTEN - YEAR 2020

MENA INSURANCE COS RANKED BY PREMIUM WRITTEN - YEAR 2020

(US$000)

Rank Company Name Country Premium Premium Assets Assets Shareholders Shareholders Net Profit Net Profit Roe Rating
Written 2020 Written 2019 2020 (%)
001 QATAR INSURANCE QATAR 2019 Equity 2020 Equity 2019 2020 2019
002 BUPA ARABIA KSA
003 TAWUNIYA KSA 3,351,900 3,528,340 11,698,830 10,828,300 2,278,200 2,807,000 34,630 184,000 1.52 A (S&P)
004 GULF INS GRP (GIG) KUWAIT 2,785,960 185,630 158,340 17.95
005 DAMAN HEALTH UAE 2,416,470 2,776,230 3,065,600 2,714,960 1,034,300 808,640 104,890 107,240 13.88 A (S&P)
006 ORIENT UAE 1,461,010 13.92 A (AM Best)
007 ADNIC UAE 1,370,000 2,233,560 3,801,980 3,763,860 755,610 639,850 53,710 44,010
008 OMAN INSURANCE UAE 1,157,300 N/A N/A -
009 WAFA MOROCCO 1,093,200 1,299,300 2,632,200 2,516,240 385,940 358,740 12.57 A (S&P)
010 RMA MOROCCO 117,170 115,760 14.80 A (S&P)
011 RAJHI TAKAFUL KSA 976,340 1,250,000 2,300,000 2,300,000 690,000 690,000 101,100 77,400
012 MEDGULF / KSA KSA 928,400 52,040 9.49 A (AM Best)
013 MUTUELLE TAAMIN CHAABI MOROCCO 763,400 1,056,800 2,420,360 2,107,700 932,430 850,750 53,530 71,200 6.76
014 MISR INSURANCE EGYPT 728,770 44,800 89,510 13.72
015 SAHAM ASSURANCE MOROCCO 675,870 1,022,650 2,269,700 2,156,850 683,110 625,280 89,510 22,980 20.40
016 ATLANTA SANAD MOROCCO 642,500 60,550 7.18
017 AXA MAROC MOROCCO 598,850 965,950 2,071,870 1,912,160 564,210 521,960 14,640 5,120
018 WALAA KSA 569,090 N/A -
019 AXA COOPERATIVE KSA 550,000 971,070 4,670,000 4,663,140 663,190 657,800 N/A 17.73 B++(AM Best)
020 NATIONAL LIFE OMAN 540,800 163,510 150,900
021 AHLEIA / KUWAIT KUWAIT 392,720 747,640 4,000,000 4,100,000 652,530 652,530 44,500 4.50
022 MISR LIFE EGYPT 378,090 22,340 27,200 12.39
023 AL AIN AL AHLIA UAE 348,120 685,280 1,162,740 960,870 296,880 233,390 48,430 36,850
024 SAICO “DAMANA” (2) BAHRAIN 335,140 35,000 11,320 6.36 A (AM Best)
025 MAMDA / MCMA MOROCCO 330,640 645,670 1,026,260 933,570 203,920 189,630 14,790 28,930 6.05 B++(AM Best)
026 SALAMA / UAE UAE 328,670 44,490 26,500 19.16 A (AM Best)
027 EMIRATES INS. UAE 326,000 523,000 N/A N/A N/A N/A 38,980 33,590 22.26 B++(AM Best)
028 QLM QATAR 320,800 40,400 84,030 9.71 A - (S&P)
029 ALLIANZ (LIFE) EGYPT 318,000 576,280 2,105,200 2,149,430 922,250 1,043,910 99,970 15,810 23.97 BBB(AM Best)
030 BUHAIRA NATIONAL UAE 283,370 20,680 18,760 6.49 A3 (Moody’s)
031 DUBAI UAE 275,090 592,420 2,401,340 2,324,600 496,500 487,770 18,760 - 13.12 A- (AM Best)
032 DOHA INSURANCE GROUP QATAR 260,470 16,180
033 UNION / UAE UAE 252,370 498,890 2,440,560 900,000 390,920 230,500 - 38,150 -
034 MAROCAINE VIE MOROCCO 250,360 37,060 - 16.57 BBB- (S&P)
035 METLIFE / EGYPT EGYPT 250,000 464,090 2,200,000 2,220,000 550,000 615,300 29,420 22,060 10.03
036 GIG BAHRAIN BAHRAIN 248,510 26,940 6,010 18.75 A- (S&P)
037 SAICO / KSA KSA 239,600 324,110 768,030 542,060 244,350 178,470 32,700 20,710 36.32
038 QATAR GENERAL QATAR 227,680 13,440
039 ARABIA / LEBANON LEBANON 227,160 375,940 771,270 671,240 232,240 185,660 6,530 5,830 3.55 BB+ (S&P)
040 WATANIYA / KSA KSA 212,010 15,000 12,900 10.55 A - (AM Best)
041 MALATH KSA 210,000 385,970 465,690 488,880 175,120 153,000 16,500 29,570 5.41 A- (S&P)
042 SAA ALGERIA 209,920 7,600
043 AL ETIHAD KSA 209,570 320,880 1,112,950 1,027,560 416,230 358,190 2,000 -2,830 2.22 B++(AM Best)
044 CAAT ALGERIA 208,420 9,100 19.11
045 MEDGULF / LEBANON LEBANON 198,300 278,500 2,047,160 2,018,200 417,100 515,200 41,700 -128,600 64.65
046 ALLIANZ SAUDI FRANSI KSA 197,780 10,420 5,250 9.45 A - (AM Best)
047 ALLIANZ / MOROCCO MOROCCO 195,160 314,500 751,640 1,220,000 318,720 327,800 12,620 4,910 13.28
048 TAKAFUL EMARAT UAE 190,800 35,950 4,900 2.57 B+ (AM Best)
049 UCA / KSA KSA 179,930 326,000 260,000 260,000 143,000 143,000 -8,440 -6.01 B++(AM Best)
050 NGI UAE 174,560 2,090 18,400 2.95 BBB (S&P)
051 AXA LIFE EGYPT 167,300 265,000 1,820,500 1,800,000 244,300 242,000 6,050 17,150 4.85 BBB+ (S&P)
052 CIGNA (1) MIDDLE EAST 164,500 19,600 21,220 6.59
053 GULF UNION AL AHLIA KSA 157,640 301,400 1,228,250 1,142,380 223,710 210,300 -7,370 -5.39
054 BANKERS LEBANON 156,250 22,070 8,900 10.20
055 ARABIAN SHIELD KSA 153,570 309,810 849,800 756,830 293,460 323,980 11,100
056 SAGR NATIONAL / UAE UAE 148,570 N/A -
057 ACIG KSA 147,810 - 479,500 - 143,690 - -4,700 N/A -2.51
058 ALLIANZ SNA LEBANON 147,390 -10,350
059 RAK / UAE UAE 139,250 186,600 828,860 688,300 90,040 67,200 N/A - A (AM Best)
060 CAAR ALGERIA 137,370 -4,100 2,010 -13.68
061 DHOFAR OMAN 135,620 236,180 523,350 547,040 183,850 178,250 -4,000 4,630
062 KUWAIT INSURANCE KUWAIT 134,000 12,560 17,980 -4.50
128,450 264,600 466,770 438,480 142,200 147,410 23,930 5,100 9.41 A- (AM Best)
65 126,100 -7,770 50.04
125,200 180,100 720,000 779,820 305,000 294,770 - -4,500
-12,160 4,510 -
252,600 482,000 494,900 90,190 88,830 12,170 1,310 -16.97
1,900 15.08 B++(AM Best)
233,700 647,200 690,100 47,610 49,300 8,440 -86,000
1,570 1,090 6.85
178,440 526,650 423,460 64,500 48,150 5,040 1.80 A+ (S&P)
950 7,040 2.43
217,200 636,900 571,200 110,230 95,490 -10,200 30,980 -35.64 AA (S&P)
6.63 BBB+ (S&P)
222,490 349,710 349,760 95,060 82,830 3,670 3.92
6,680 15.09
191,000 2,510,000 2,510,000 1,400,000 1,400,000 10,020 10.52 A3 (Moody’s)
34,700
190,030 659,170 538,630 140,540 119,650

196,010 425,260 422,860 70,890 68,880

222,730 350,210 368,060 124,820 122,800

243,960 723,300 710,780 297,300 318,730

229,850 389,330 396,510 136,680 128,100

206,010 618,970 608,150 216,410 216,510

171,030 195,460 195,460 36,650 39,650

269,770 701,840 622,470 187,080 87,130

152,520 N/A N/A N/A N/A

165,100 284,000 300,480 29,970 32,150

112,080 338,560 319,430 88,800 100,120

146,050 377,750 332,700 133,530 124,520

119,620 553,640 452,200 47,820 42,480

153,570 155,780 155,780 45,350 45,350

149,010 348,270 188,370 71,640 38,740

122,810 326,920 205,590 80,720 73,550

145,000 322,280 303,300 123,170 116,700

110,900 278,810 239,220 87,270 86,110

141,160 161,980 150,090 39,120 38,520

153,780 581,600 533,000 28,620 -38,500

158,580 184,440 224,450 55,330 51,770

128,400 409,800 414,950 170,560 183,510

118,650 344,400 385,000 66,400 56,990

122,000 630,000 667,100 330,000 366,030

AL BAYAN ECONOMIC MAG - ISSUE 607 - JUNE 2022