What Does Wafa Insurance Do?

Total employees0
HeadquartersRiyadh
Founded2007

Wafa Insurance, officially known as the Saudi Indian Company for Cooperative Insurance, was a publicly listed insurance provider (Tadawul: 8180) operating in the Kingdom of Saudi Arabia. Founded in 2007, the company offered various insurance products including motor, medical, property, and casualty. Due to accumulated losses and failure to meet solvency margin requirements, the Saudi Central Bank (SAMA) ordered Wafa Insurance into liquidation in November 2020. The company ceased writing new business and is currently under the administration of appointed liquidators to wind down its operations and settle obligations.

Where Is Wafa Insurance's Headquarters?

Wafa Insurance officeWafa Insurance officeWafa Insurance officeWafa Insurance office
*Images sourced via web search. Rights belong to original owners

HQ Function

Prior to liquidation, this office served as the corporate headquarters, housing key departments like underwriting, claims management, finance, and executive leadership for its operations across Saudi Arabia.

Notable Features:

Located in Al Mousa Centre, a known commercial complex in Riyadh. Specific architectural highlights of the office itself are not extensively documented; it was a functional corporate office.

Work Culture:

Before its financial troubles escalated, the work culture likely mirrored that of other insurance firms in the region, emphasizing customer service, risk management, and sales. The environment shifted dramatically towards uncertainty and eventual wind-down as financial issues became critical, culminating in liquidation.

HQ Significance:

This was the central hub for all of Wafa Insurance's strategic decisions and operational management within Saudi Arabia until its operations ceased.

Values Reflected in HQ: Initially, the headquarters would have aimed to project stability and reliability. The subsequent financial distress and liquidation have unfortunately overshadowed these intended values.

Location:

Wafa Insurance's operations were confined to the Kingdom of Saudi Arabia. It did not maintain a global presence or international branches. All its services, including underwriting, policy issuance, and claims processing, were targeted towards the domestic Saudi market prior to its liquidation.

Street Address:

Al Mousa Centre, Tower 3, 5th Floor, Olaya Main Street

City:

Riyadh

State/Province:

Riyadh Province

Country:

Saudi Arabia

Where Else Does Wafa Insurance Operate Around the World?

Jeddah, Saudi Arabia

Address: King Fahd (Sitteen) Street, Al-Falak Square, Jeddah (Historical)

To serve the insurance needs of individuals and businesses in Jeddah and the surrounding Western Region of Saudi Arabia.

Al Khobar, Saudi Arabia

Address: King Faisal Bin Abdulaziz Road, Al-Bandariyah, Al Khobar (Historical)

To cater to the insurance market in Al Khobar, Dammam, and the wider Eastern Province of Saudi Arabia.

Buying Intent Signals for Wafa Insurance

Highperformr Signals uncover buying intent and give you clear insights to target the right accounts at the right time — helping your sales, marketing, and GTM teams close more deals, faster.

Notable news
Hiring actively
Corporate Finance
Corporate Finance
Corporate Finance
Corporate Finance
Corporate Finance
*Example signal, not calculated in real time

Who's Leading Wafa Insurance? Meet the Executive Team

As of April 2025, Wafa Insurance' leadership includes:

Mr. Omar Mahmoud Al-Mahmoud - Former Chief Executive Officer (pre-liquidation, as per 2019/2020 reports)
Sheikh Saad Bin Abdulaziz AlKroud - Former Chairman of the Board (pre-liquidation, as per 2019/2020 reports)
Al-Azem, Al-Sudairy, Al-Shaikh & Partners (Crowe Global) and Al Tamimi & Company - Appointed Joint Liquidators

Who's Investing in Wafa Insurance?

Wafa Insurance has been backed by several prominent investors over the years, including:

Formerly publicly traded on the Saudi Stock Exchange (Tadawul) under ticker 8180. Key founding/major shareholders historically included The New India Assurance Company Ltd., Al Muhaidib Holding Group, and various Saudi institutional and individual investors. All shareholder interests are now subject to the outcomes of the liquidation process.

What Leadership Changes Has Wafa Insurance Seen Recently?

Hire0
Exits5

Following years of financial distress, Wafa Insurance saw the dissolution of its executive team with the liquidation order in November 2020. The focus shifted to the appointment of external liquidators to manage the company's wind-down. No operational hires have occurred since.

Departures

All Former Executive Management and Staff, All executive and operational roles effectively ceased with the company's entry into liquidation.

What Technology (Tech Stack) Is Used byWafa Insurance?

Discover the tools Wafa Insurance uses. Highperformr reveals the technologies powering your target accounts — helping your sales, marketing, and GTM teams prioritize smarter and close faster.

Wafa Insurance Email Formats and Examples

Due to Wafa Insurance's liquidation, official email communication channels are no longer active. Historically, the company likely used common corporate email formats in Saudi Arabia, such as combining first name initials and last names with their domain.

flast@wafa.com.sa (e.g., jsmith@wafa.com.sa - hypothetical, based on common patterns for the former domain wafa.com.sa)

Format

info@wafa.com.sa (formerly a general contact, now defunct)

Example

0%

Success rate

What's the Latest News About Wafa Insurance?

Argaam / Saudi Central Bank (SAMA) • November 26, 2020

Wafa Insurance: SAMA Orders Liquidation of Wafa Insurance

The Saudi Central Bank (SAMA) announced its decision to initiate liquidation procedures for Wafa Insurance Co. due to the company's inability to rectify its deteriorating financial position and meet solvency requirements after accumulated losses exceeded 50% of its capital....more

Argaam / Tadawul • February 1, 2021

Wafa Insurance Appoints Joint Liquidators to Oversee Wind-Down

Wafa Insurance announced on Tadawul the appointment of Al-Azem, Al-Sudairy, Al-Shaikh & Partners (member firm of Crowe Global) and Al Tamimi & Company as joint liquidators. Their role is to manage the company's winding-up process, including asset realization and creditor claims, following the liquidation order from SAMA....more

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