ABOUT US

Gulf Union Al Ahlia Cooperative Insurance Company is proud of its reputation and standing in the Saudi market since its establishment. During the previous periods, the company was able to prove its excellence and the sophistication of its insurance services, which being provided with all interest to its customers in the Saudi insurance market.

Gulf Union Al Ahlia for Cooperative Insurance is one of the leading national companies in the Kingdom of Saudi Arabia.

With this history full of giving, it was not surprising that our company was one of the first companies to obtain a license from the Saudi Central Bank to practice insurance activities, and the company obtained this license since December 29, 2008.

“Gulf Union Al Ahlia” Cooperative Insurance Company is based in Dammam City, and it attributes its success to the working group which includes a team of professionals on high level of expertise and competence, this team is responsible for the preparation and design of insurance programs, that suits the work nature of the clients and provides technical consultations to them, as well as to provide various insurance services criteria for world-level innovative. The work team is divided between the company Head Office and main branches throughout the Kingdom to increase customers, senior businessmen and investors’ confidence in the Company.

We are proud of our distinguished Name and Services, Gulf Union Al Ahlia Cooperative Insurance Company, Saudi public joint stock company with a capital of 458,949,280 Saudi riyals, under Commercial Registration No. 2050056228

In the past decades, the world has witnessed several consecutive developments impacting life’s operational sides, whether technically or electronically in addition to the tremendously fast progress in communication and IT. On the other hand, the rapid development in the insurance sector is not a negligible share behind those developments in several countries around the world.

Amidst those changes revolutionizing the world, the economy of the Kingdom of Saudi Arabia witnessed an unprecedented resurgence recording several successes in both the private and public sectors. It is obvious that the

Custodian of the Two Holy Mosques, (God bless him), Crown Prince , (God bless him), and his sensible government were mostly behind the Kingdom reaching a highly noticeable and prominent position among other nations, becoming a prominent one among the 20 Nations thanks to its solid and strong economy.

In order to maintain this leading position, it was important to sustain it with great efforts, hence came the focus on the insurance sector considered a priority for leading economies.

The presence of “Gulf Union Al Ahlia” Cooperative Insurance Company within the Insurance system in KSA market, is in reality a support for this blooming economy, as we are playing our role in great care, precision, integrity, commitment in a manner designed to support and protect our national economy.

Therefore, I am pleased to advise all investors and businessmen and enlighten them on the importance of insuring their properties against any risk that might arise and negatively affect their businesses and assets. At the same time, I would also advise them to choose insurance companies that are trustworthy through high reputation, that have good history in this important industry and that exclusively enters into contract with leading international reinsurance companies. I would also advise them not to search for low-cost but to make sure of its elements of force and its capacity to fulfill their obligations and commitments to their clients.

Abdul Aziz Bin Ali Al Turki

Chairman

The insurance industry occupies an important position in economies of many countries worldwide for its vital role in the development of national investments and providing financial protection to individuals and companies against various dangers. In the Kingdom of Saudi Arabia, this industry has its own characteristics because the insurance companies work according to the system of cooperative insurance, which is based on a fundamental principal of business management according to al Shari’a rules: no betray or usury are allowed.
Gulf Union Al Ahlia cooperative Insurance Company is proud to commit to the values of our shari’a and to the disciplinary values of the Saudi society, which are applied in all our business practices and our relationships with our clients and employees.

We stem from these values the basic principles that guide our work such as honesty, transparency, commitment, responsibility and superior performance.

To keep our reputation as the first company of choice and the most trusted in the Kingdom, we always strive to reflect our deep and long experiences in the insurance field within our insurance programs and services that we present to our clients according to the highest worldwide standards and global systems.

It is worth noting in this context that the Gulf Union Al Ahlia Cooperative Insurance Company pays great attention to information technology, as change and transformation in the field of information technology constitutes one of the most important growth challenges. We are currently seeking to attract the latest technological developments to achieve a comprehensive digital transformation, which will have a positive impact and achieve a qualitative achievement in the size, quality, efficiency and excellence of the company’s business in the Saudi insurance market.

We also attempt to be a model in committing to upgrade our work standards by attracting young talents and competencies from the Saudi society, and train them to be ready to serve all our clients with professionalism and respect. All these features make from “Al Ahlia” a source of confidence in the Saudi market, so it would be the company that deserves your aspirations if your goal is to find peace of mind and feeling assured. What we promise is to be always beside you to face any dangers that may cause you anxiety, because our company has all the success elements: professional team that includes more than 250 employees, solvency, and the ability to meet its obligations and commitments.

So be fully confident that “Al Ahlia” will never disappoint you whatever the circumstances or risks that you face and can harm you or your properties may God forbid

Mesheal Bin Ibrahim Al Shayea

Chief Executive Officer

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The Board of Directors is composed of a group of distinguished experience professionals in insurance industry and elite experienced businessmen in business and management.

The Board Members were elected by the Company’s General Assembly.

Board is consists of seven Members as follow:

  1. Sheikh / Abdul Aziz Bin Ali Al Turki, Chairman
  2. Fawaz Talal Al Tamimi, Deputy Chairman
  3. Munir Hashim Al Borno, Member
  4. Ibrahim Abdullah Al Mutrif, Member
  5. Ayham Mohammed Al Yousef, Member
  6. Majed Shatti Al Dhufiri, Member
  7. Ghassan Mohammed Kashmeeri, Member

 Five committees emerge from the Board of Directors as follows:

  1. Executive Committee
  2. Audit Committee
  3. Investment Committee
  4. Risk Management Committee
  5. Nomination and Remuneration Committee

Our vision

To be the market leading insurance Company with a value proposition and reliability that is beyond excellence

Our Mission

Establish Gulf Union Al Ahlia as a new age Digital Insurer with a Focus on Customer Experience, Cost Efficiency and Market leadership

Our values and principles

Customer care, professionalism, integrity, teamwork, innovation, commitment to digital excellence

“Gulf Union Al Ahlia” Cooperative Insurance Company always seeks to create an effective communication channel with the investors, in order to provide them all the services they need and saving their records, in addition to responding to their inquiries.

In order to have a transparent relationship with the investors, “Gulf Union Al Ahlia” discloses periodically all important information to the shareholders and public as per regulators instructions to maintain the company’s image and reputation. In this way, the partnership between “Gulf Union Al Ahlia” and the investors would be based on solid foundations, and there would be constant communication between the two parties which has a positive impact on the development of the company’s plan and helps to achieve the future aspirations aimed at achieving excellence in the field of insurance.

In case of any inquiry and for more information please contact the Investor Relations and Board Secretary using the following contact details:

Email address: BOD@gulfunion-saudi.com

Free number 8003040077

Tel no. 0138358400

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