Riyadh – Mubasher: Al Etihad Cooperative Insurance Company has obtained the final approval from the Saudi Insurance Authority (IA) to market and sell its new Tourist Insurance product, according to a bourse filing.
The insurance solution is specifically designed for individual tourists visiting the Kingdom of Saudi Arabia, marking a strategic expansion of the company’s retail insurance portfolio.
Al Etihad Cooperative Insurance confirmed that it received official notification from the IA on 24 May 2026.
It added that the approval was delivered via electronic correspondence, signifying the successful completion of the regulatory review process for this specific insurance line.
The newly approved product has been assigned the regulatory identification number P-ETHD-2-I-26-073. This reference number serves as the official designation for the Tourist Insurance product, ensuring it is recognized within the Insurance Authority's framework for compliant financial products.
The approval is categorized as final, which authorizes Al Etihad to proceed immediately with its marketing and sales strategies directed at the individual tourist demographic within Saudi Arabia.
The introduction of this product comes at a time when the Saudi insurance sector is experiencing heightened regulatory oversight and structural development.
The Insurance Authority, as the primary governing body for the industry, is tasked with fostering a stable and competitive insurance market that protects the interests of policyholders while encouraging innovation. By securing this final approval, Al-Etihad demonstrates its adherence to the rigorous standards set by the Authority for new product launches, including policy transparency and consumer protection.
From a strategic perspective, the launch of this product enables Al Etihad to diversify its revenue streams and strengthen its presence in the retail insurance market. The company’s ability to navigate the regulatory landscape and secure final approval highlights its operational readiness and its commitment to expanding its product suite in response to evolving market requirements.
This development is expected to enhance the company's competitive position within the cooperative insurance sector.
In the first quarter (Q1) of 2026, Al Etihad Cooperative Insurance generated SAR 9.42 million worth of net profits attributable to the shareholders.
