Johannesburg: AfricUpdate – News Desk
Zain KSA, a leading telecom and digital services provider in Saudi Arabia, has officially entered the Insurtech space through a strategic joint venture with global insurance specialist PREVENSURE. Through Al Sayra Holding Company, its wholly owned financial investment arm, Zain KSA has acquired a majority stake in Green Shield Insurance Brokers Ltd (GSIB), a Saudi-based brokerage firm.
Al Sayra Holding now owns a 60% stake in GSIB, with the remaining 40% acquired by PREVENSURE. The deal, approved by Saudi Arabia’s Insurance Authority (IA), marks a significant milestone in Zain KSA’s ongoing evolution from telecom operator to an enabler of tech-enhanced lifestyles in a digital economy.
Under the partnership, GSIB will transform into a next-generation insurance brokerage, offering both traditional and digital insurance solutions for individuals and enterprises across Saudi Arabia. Integrating Zain KSA’s advanced digital ecosystem with PREVENSURE’s global expertise in insurance and risk management, it will improve access to insurance services, unlock new business models, and enhance financial inclusion across the Kingdom.
Expanding into Insurtech is a strategic leap forward for Zain KSA’s business strategy that also reinforces its position as a key partner driving nationwide digital transformation. With this investment, Zain KSA is entering a high-growth sector while contributing to a more inclusive and innovative financial services future for Saudi Arabia.
