Buruj Cooperative Insurance Company
Buruj Cooperative Insurance Company (BURUJ) is a non-life insurer listed on the Saudi stock exchange “TADAWUL” with current paid-up capital of SAR 250 Million. BURUJ operates across the kingdom through various regional branches and point of sales and offers various types of insurance covers through distinguished insurance products such as: Motor, Property and Fire, Marine, Engineering, Health, Fidelity and Money, Liability, and other types.
Gulf Insurance Group (gig) is the major shareholder in BURUJ with a share of 28.50%.
Buruj Cooperative Insurance Company is a Saudi Joint Stock company registered in the Kingdom of Saudi Arabia under Commercial Registration No. 1010280606 dated 10 Safar 1431H, corresponding to 26 January 2010. The Company was licensed to conduct insurance business in the Kingdom of Saudi Arabia under cooperative principles in accordance with Royal Decree numbered 72/M dated 28 Shawal 1429H (corresponding to 29 October 2008), pursuant to Council of Ministers resolution numbered 313 dated 27 Shawal 1429H (corresponding to 28 October 2008). On 10 Muharram 1431H (corresponding to 27 December 2009), the Ministry of Commerce & Industry issued a resolution declaring the incorporation of the Company and obtained the Saudi Arabian Monetary Agency insurance license to transact operations on 15 Jumada Thani 1431H (corresponding to 29 May 2010).
Buruj's insurance experience in the market goes back to 1979 when it was operating through a local agent under the name of Saudi Pearl Insurance Company (registered in Bahrain) in which Gulf Insurance Group had a 100% ownership in it. After the issuance of Insurance Regulations in the Kingdom, Saudi Pearl through its owner Gulf Insurance Group in Kuwait along with other major business groups and Saudi businessmen established the Buruj Cooperative Insurance Company.
Buruj is dedicated to satisfying the security needs of individuals and businesses in order to help them manage their everyday risks, recover from unpredicted events, and reach their aspirations.
We will achieve this by establishing long term partnerships that enable us to understand, anticipate, and satisfy their needs, and by providing quality insurance solutions and superior levels of service that meet or exceed their expectations.
Buruj’s vision for the future is to be the security solutions provider of choice. Our success will measured by our clients choosing us because of their belief in our ability to meet or exceed their expectations of services, expertise, price, and value.
- Yaser Yusuf Naghi
- Khalid Saoud Al Hassan
Executive Board Member
- Samer Kanj
Canary Center, 1st Floor
Prince Abdulaziz Bin Musaed Bin Jelwi Street
P.O. Box 51855 Riyadh 11553