About Us

We at Walaa Cooperative Insurance Company are aiming to become one of the leading insurer for all classes of products to all section of the society.

About Walaa

We take pride in introducing ourselves as one of the leading insurance and reinsurance company in the Kingdom of Saudi Arabia with a fully paid-up capital of SAR 850 million.

We have been assigned an (A-) Insurance Financial Strength Rating (IFSR) by S&P Global Ratings and (gcAAA) GCC regional scale financial strength credit rating, both with a 'stable' outlook. Moody’s Investors Service rated Walaa with a financial strength rating of (A3).

Headquartered in Al-Khobar - Eastern province, the oil hub of the Kingdom, we serve our clients all over the Kingdom through three regional offices and more than 70 retail offices.

Article of Association

Corporate Governance Policy

Vision

To position ourselves as one of the leading insurance and reinsurance company in the Saudi market providing all classes of Shariyah compliant products in all sectors and to all cross-sections of society.

 

Quality Policy

We are committed to providing high-quality services and competitive insurance products through qualified, professional, and committed staff to meet and exceed the expectation of our stakeholders by inculcating our business core values in our day-to-day operations.

We are striving to achieve this by

  • Inculcating our core corporate value in our employees and service providers.
  • Creating a culture of teamwork encouraging employees to work together for the benefit of the company and to provide value-added services to the clients.
  • Identifying areas of continuous learning and development for our employees to enhance their skills and competencies.
  • Ensuring performance by continually aligning our objectives to business needs.
  • Ensuring stakeholders' business interests are met on priority.
  • Complying with local regulations and statutory requirements and continuously improving the effectiveness of the quality management system.

 

It is a culture and commitment embedded in our day-to-day operations.

 

 

Company Profile 2021

Consumer Protection Regulation Insurance

SAMA Insurance Market Code of Conduct

Credit Rating

We are customer focused and motivated by our values

A3

Moody’s Investors Service rating

A-

A Insurance Financial Strength Rating (IFSR) by S&P Global Ratings

gcAAA

S&P Global Ratings with a 'stable' outlook

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