Rasan: Saudi Arabia’s digital insurance leader has big growth ambitions:
• Rasan is Saudi Arabia’s biggest retail motor insurance aggregation platform and the leading insurer to car leasing firms

• The firm also offers B2B health insurance. Demographics and regulation are tailwinds, but effective execution will be key
• IPO proceeds will fund growth into new insurance verticals (general, travel, medical malpractice) and geographies (UAE).

This report does not constitute investment advice. Please read the important information contained at the end of this document.
Overview:
Having launched its first business in 2017, Rasan Information Technology Company is now the largest insurance aggregator in Saudi Arabia. It is active in motor insurance, life insurance and health insurance and intends to enter general insurance, medical malpractice insurance and travel insurance. Expansion into the UAE insurance market is also planned. In 2023, the company generated SAR256mn revenues from gross written premiums of SAR6.6bn. Its EBITDA margin was 28%.