Sector News

Riyadh – Mubasher: The board of Aljazira Takaful Taawuni Company approved on 22 May 2024 the distribution of SAR 19.80 million in cash dividends for the fiscal year 2023. The eligibility and distribution dates will be announced at a later time, …

Riyadh – Mubasher: Allied Cooperative Insurance Group (ACIG) reduced its accumulated losses to 16.84% of the capital as of 31 March 2024, according to a bourse filing. ACIG suffered lower accumulated losses valued at SAR 49 million, mainly due to …

Riyadh – Mubasher: The net profit after zakat, attributable to shareholders of Malath Cooperative Insurance Company (Malath Insurance) plummeted by 74.07% year-on-year (YoY) in net profit to SAR 11.44 million in the first quarter (Q1) of 2024 from …

Riyadh – Mubasher: The Mediterranean and Gulf Insurance and Reinsurance Company (MedGulf) reported a 27.44% year-on-year (YoY) decline in net profit to SAR 26.26 million in the first quarter (Q1) of 2024 from SAR 36.19 million. Insurance revenues …

Riyadh – Mubasher: The net profit after Zakat attributable to shareholders of Aljazira Takaful Taawuni Company soared 79.41% year-on-year (YoY) to SAR 12.78 million in the first quarter (Q1) of 2024 from SAR 7.12 million. Insurance revenues leapt …

Riyadh – Mubasher: Allianz Saudi Fransi Cooperative Insurance Company achieved net profits after Zakat attributable to the shareholders amounting to SAR 9.98 million in the first quarter (Q1) of 2024. The registered net profits were higher by …

Riyadh – Mubasher: Walaa Cooperative Insurance Company logged a net profit after Zakat attributable to shareholders of SAR 39.86 million, up 64% year-on-year (YoY) from SAR 24.30 million. Insurance revenues grew 16.28% YoY to SAR 767.07 million in …

Riyadh – Mubasher: The net profits after Zakat attributable to the owners of Arabia Insurance Cooperative Company increased by 7.01% to SAR 7.83 million in the first quarter (Q1) of 2024. The quarterly net profits were compared with SAR 7.32 …

Riyadh – Mubasher: Arabian Shield Cooperative Insurance Company recorded net profits after Zakat attributable to the owners valued at SAR 15.77 million in the first quarter (Q1) of 2024, an annual hike of 752.35% from SAR 1.85 million. Insurance …

Riyadh – Mubasher: Al Alamiya for Cooperative Insurance Company shifted to profitability in the first quarter (Q1) of 2024, recording a net profit after Zakat attributable to shareholders of SAR 4.64 million, versus a net loss of SAR 867,000 in …

Riyadh – Mubasher: Gulf Union Al Ahlia Cooperative Insurance Company posted a net profit after Zakat attributable to shareholders of SAR 19.54 million in the first quarter (Q1) of 2024, down 29.99% year-on-year (YoY) from SAR 27.91 million. …

Riyadh – Mubasher: The net profits after Zakat attributable to the owners of Saudi Reinsurance Company (Saudi Re) hit SAR 31.79 million in the first quarter (Q1) of 2024. The quarterly net profits jumped by 183.87% from SAR 11.19 million in Q1-23, …

Riyadh – Mubasher: S&P Global Ratings has assigned Gulf Insurance Group (GIG) a long-term financial strength rating of ‘A-’ with a stable outlook. The rating agency based its assessment on several strengths, including the company’s capital …

Riyadh – Mubasher: The net profits after Zakat attributable to the owners of Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) hiked by 81.74% to SAR 111.37 million in the first quarter (Q1) of 2024. The net profits were compared with …

Riyadh – Mubasher: The net profits after Zakat attributable to the owners of Bupa Arabia for Cooperative Insurance Company hit SAR 359.42 million in the first quarter (Q1) of 2024. The quarterly net profits jumped by 90.57% from SAR 188.59 million …

Riyadh – Mubasher: Gulf Insurance Group (GIG) shifted to losses during the first quarter (Q1) of 2024, recording a net loss after Zakat attributable to shareholders of SAR 20.21 million, compared to a net profit of SAR 56.69 million. Insurance …

Riyadh – Mubasher: The Company for Cooperative Insurance (Tawuniya) recorded a 164.12% year-on-year (YoY) jump in net profit after Zakat attributable to shareholders to SAR 196.69 million in the first quarter (Q1) of 2024, versus SAR 74.46 …

Riyadh – Mubasher: Fitch Ratings granted Arabian Shield Cooperative Insurance Company the financial strength insurance tating of ‘A-' and the national financial strength insurance rating of ‘AA (SAU) '. The Saudi insurance firm’s outlooks was …

Riyadh – Mubasher: The Capital Market Authority (CMA)greenlighted the request of Al Sagr Cooperative Insurance Company to increase its capital by way of a rights issue. The listed firm plans to raise its capital by SAR 160 million to SAR 300 …

Riyadh – Mubasher: The Capital Market Authority (CMA) has approved Al Etihad Cooperative Insurance Company's request to increase its capital from SAR 450 million to SAR 500 million through 5 million bonus shares. The company will carry out the …

Abu Dhabi – Mubasher: Abu Dhabi National Insurance Company (ADNIC) has completed the acquisition of a 51% stake in Allianz Saudi Fransi Cooperative Insurance Company, according to a press release. The transaction will enable ADNIC to become one of …

Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company submitted an application file to the Capital Market Authority (CMA) on 17 April 2024 to increase its capital to SAR 380 million. The insurance firm plans to raise its capital by offering …

Riyadh – Mubasher: The board of Al Etihad Cooperative Insurance Company has recommended the distribution of SAR 27 million in cash dividends for 2023. The proposed dividends are equivalent to SAR 0.60 per share to be distributed to 45 million …