Amana Cooperative Insurance Co.

Amana Cooperative Insurance Co. (8310) is a Saudi-based insurance provider operating under the cooperative insurance model mandated in the Kingdom. The company focuses on life insurance products, including individual and group life policies, as well as related savings and protection plans. It is regulated by the Saudi Central Bank (SAMA) and listed on the Saudi Exchange.

The company generates revenue primarily from insurance premiums collected from policyholders. Its business model involves underwriting life insurance risks, investing the premium pool in low-risk assets, and paying claims when due. Revenue has grown significantly (47.16% YoY), but the company has reported net losses in three of the last four quarters, resulting in a negative profit margin of -4.43%. It holds no debt and has a strong cash position of 163.44M SAR.

Amana competes in the Saudi life insurance sector, which is part of the broader financial services industry. The market is characterized by high regulatory standards and growing demand for life insurance due to rising awareness and mandatory requirements for certain segments. Amana's price-to-book ratio of 0.99 suggests it is valued near its book value, while its negative EV/EBITDA reflects current unprofitability. The company's small market cap (275.20M SAR) positions it as a smaller player in a market dominated by larger insurers.

The company's target customers are individuals and groups in Saudi Arabia seeking life insurance coverage, including expatriates and local nationals. Its primary geographic market is the Kingdom of Saudi Arabia, where it operates through a network of agents and brokers. The company may also serve corporate clients for group life policies. Given the regulatory environment, Amana's customer base is tied to the Saudi economy and population growth.

An auto-generated descriptive profile based on company data, for informational purposes only.