Malath Cooperative Insurance Company
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Malath Cooperative Insurance Company is a Saudi public joint-stock company founded in 2007 by a group of Saudi investors. It provides and develops insurance and reinsurance products for businesses and individuals.
In 2007, the company was enlisted in the main market of the Saudi Stock Exchange "Saudi Tadawul" under the name "Malath Insurance" and symbol "8020," with a capital of SAR500 million. The company's headquarters is located in Riyadh. Additionally, it is a founding member of Najm Insurance Services Company.
Products of Malath Cooperative Insurance Company
Malath Cooperative Insurance Company presents its products through its offices, agents, and electronic portal. These products include:
- Medical insurance for small and medium enterprises: It covers seven categories for entities' employees, including individuals and families.
- Health insurance, inside and outside hospitals: It treats individuals and families through medical care centers accredited by Malath Company and the Council of Cooperative Health Insurance in the Kingdom of Saudi Arabia.
- Motor insurance: It includes vehicle damage insurance, comprehensive vehicle insurance with additional options, such as personal accident, age extension, fixing the car at the agency, and providing an alternative vehicle, in addition to liability insurance against third parties and the possibility to include personal accidents and age expansion against third parties.
- Engineering insurance for projects, equipment, devices, and concrete works.
- Property insurance from the dangers of fire, natural factors, and disasters.
- Hull of Boat and yacht insurance, from huge carriers to small yachts, for hull and machinery damage, sinking, fire, and collision.
- Cargo ship insurance for goods shipped by land, sea, and air.
- Miscellaneous accident insurance.
- Travel insurance, both short-term and annual.
- Medical malpractice insurance to compensate medical professionals.
Services of Malath Cooperative Insurance Company
The company's services include:
- Risk management, as it dedicated a team of experts for inspections.
- Risk management and providing recommendations to prevent them.
- Insurance consultancy as the company provides insurance solutions and consultations that suit customers’ needs.
- Reinsurance through the company's affiliation with reinsurance agreements with global insurance and reinsurance companies and centers.
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