National Company for Cooperative Insurance (NCCI)

Where the head office of National Company for Cooperative Insurance (NCCI) located in World? If the head office located in abroad, give contact details of its office located in India. What services and products provided by National Company for Cooperative Insurance (NCCI)? Give details about its all services and products.

Hi I would like to know a few details about the National Company for Cooperative Insurance located in Saudi Arabia?

[Shaleen]

The Company for Cooperative Insurance (NCCI) is a Saudi company founded in 1986. The intention of the company is to transact in cooperative insurance operations and all related activities such as reinsurance or agency activities. Its most important lines of business include motor, marine, fire, medical, engineering, aviation, takaful, and casualty insurance.

Thanks partially to its unique status as the only locally registered insurance company. NCCI (formerly National Company for Cooperative Insurance) became the largest insurance firm in the Kingdom.

But this advantageous place has changed on two fronts: first with respect to ownership, following the government's decision to float the company, and, second, in terms of the new set of laws which allow other insurance firms to be registered in Saudi Arabia, instead of using Bahrain as a backdoor.

Nevertheless, NCCI's business prospective remains strong, especially due to the introduction of compulsory health insurance of all expatriates and obligatory driving license insurance for all drivers in the country.

Schemes

Scheme name in english
Local name
Type
Contributory
Govt. Level

GOSI
National Old Age, Disability and Survivors Scheme
Defined Benefit Scheme
Fully contributory
Central government

GOSI
Work compensation Scheme
Defined Benefit Scheme
Fully contributory
Central government

NCCI
Company for Cooperative Insurance
Defined Contribution Scheme
Fully contributory
Central government