RSA in Saudi Arabia
RSA is represented in Saudi Arabia through its agent Al Alamiya for Commerce & Services which has traded in the country since 1978.
The company brings together as its shareholders the Royal & SunAlliance Middle East Ltd., three prominent Saudi families and one of the Kingdom's leading banks- Riyad Bank. As an established international insurance company in the Kingdom, our major strength over the years has been our reputation for quality, integrity and professionalism. Many of our high profile Saudi customers have been with Al Alamiya for over two decades and the business has provided itself to be a good role model of international expertise and local shareholder strength.
In May 2004, the long awaited insurance law was promulgated and implementation was then handed over to the Saudi Arabian Monetary Agency (SAMA). It set out the framework for the local registration of insurance companies for the first time, in an attempt to bring structure into what is a fast developing market. The Council of Cooperative Health Insurance (CCHI) has also begun setting out their framework for those companies permitted to transact medical insurance. With pending legislation creating a statutory requirement, Al Alamiya is one of the first companies to be authorized by the CCHI to carry out this class of business.
Al Alamiya is thus well on its way to emerging as one of a select group of substantial companies in what will eventually become a well structured and eagerly sought after market place, employing a robust strategy that builds on a successful 30-year model in the Kingdom.
