Safe living, prosperity and welfare are demands which man has been striving to satisfy. They are completely God’s grace and favour for his obedients, as well as the blessing of feeling secure and satisfied. Ever since, man has developed many methods to help him achieve the highest levels of welfare and prosperity while looking for safe haven to help him experience secure and vibrant life. Hence, the idea of Malath, which means in Arabic “safe haven that provide you shelter in difficult times.
From this perspective, Malath Cooperative Insurance Company was founded by an elite investment consortium comprising prominent Saudi personalities, with a paid up capital of SAR 300 million.
In April 2007, the company has established itself as a leading provider of insurance products and services, fulfilling the needs of the local market through an ideal insurance concept and total professionalism.
Malath, the Second licensed insurance company in the Saudi Insurance Market, has been assigned “BBB+” ratings by Standard & Poor's. This rating reflects the strength and the current stability of Malath and its promising future.
Malath Cooperative Insurance and Reinsurance Co. was founded in 2007, and has since obtained the Commercial Registration issued by the Ministry of Trade and Industry as a Saudi public joint stock company with a capital of 300 million Saudi Riyals (U.S. $ 80 million). Malath continues to offer 47.48% of its shares of stock in the company to be sold to the general public, and it remains listed on the Tadawul stock exchange. Our company also obtained final licensing by Saudi Arabian Monetary Agency (SAMA) to practice both general and health insurance.
Malath is considered to be one of the founding members of the Saudi Cooperative Reinsurance Company “RE”, as well as a founding member of Najm Company for Insurance Services.