Sector News

Riyadh – Mubasher: The Capital Market Authority (CMA) approved the request of Saudi Enaya Cooperative Insurance Company to raise its capital by SAR 150 million. The insurance firm aims to increase its capital to SAR 380 million from SAR 230 …

Riyadh – Mubasher: Saudi fintech savings platform Hakbah entered into a new partnership with The Company for Cooperative Insurance (Tawuniya) at the 24 Fintech Conference that kicked off in Riyadh on 3 September. This alliance will reshape the …

Riyadh – Mubasher: Global payments solution provider Checkout.com unveiled it will be signing strategic partnership agreements with The Company for Cooperative Insurance (Tawuniya) during the 24 Fintech 2024 event which will launch in Saudi Arabia …

Riyadh – Mubasher: Chubb Arabia Cooperative Insurance Company unveiled the appointment of Serge Michel Osouf as the Chairman of the board for the new three-year term. The company also announced Steve Brian Dixon as the Vice Chairman and Abdulaziz …

Riyadh – Mubasher: Alkhaleej Training and Education Company inked a SAR 29.19 million contract with the Company for Cooperative Insurance (Tawuniya) on 27 August 2024. Tawuniya will provide medical insurance services to Alkhaleej Training’s …

Riyadh – Mubasher: Liva Group announced a potential merger between Liva Insurance Company (Liva KSA) and Malath Cooperative Insurance Company (Malath Insurance) The GCC's leading multi-line insurer highlighted that the transaction aligns with its …

Riyadh – Mubasher: The Mediterranean and Gulf Insurance and Reinsurance Company (MedGulf) posted net profits after Zakat attributable to the owners valued at SAR 59.86 million in the first half (H1) of 2024. The recorded net profits were lower by …

Riyadh – Mubasher: Malath Cooperative Insurance Company (Malath Insurance) posted net profits after Zakat attributable to the owners valued at SAR 11.59 million in the first half (H1) of 2024. The recorded net profit shrank by 77.84% year-on-year …

Riyadh – Mubasher: Walaa Cooperative Insurance Company logged net profits after Zakat attributable to the owners valued at SAR 64.30 million in the first half (H1) of 2024, an annual rise of 2.14% from SAR 62.95 million. Earnings per share (EPS) …

Riyadh – Mubasher: Saudi Reinsurance Company (Saudi Re) logged net profits after Zakat attributable to the shareholders worth SAR 75.27 million in the first half (H1) of 2024, an annual rise of 5.78% from SAR 71.16 million. Earnings per share …

Riyadh – Mubasher: The Company for Cooperative Insurance (Tawuniya)generated net profits after Zakat attributable to the shareholders valued at SAR 656.50 million in the first half (H1) of 2024. The recorded net profits were 104.95% year-on-year …

Riyadh – Mubasher: Bupa Arabia for Cooperative Insurance Company witnessed net profits after Zakat attributable to the shareholders at SAR 764.02 million in the first half (H1) of 2024. The recorded net profits were 36.44% year-on-year (YoY) …

Riyadh – Mubasher: Banque Saudi Fransi has awarded Al Alamiya for Cooperative Insurance Company a contract for insurance services for one year. Signed on 16 July 2024, the agreement’s value is more than 10% of the insurance revenues of Al …

Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company has been awarded and signed an insurance contract with Dr. Soliman Abdel Kader Fakeeh Hospital Company (Fakeeh Care Group) on 12 July 2024. Saudi Enaya received a confirmation to provide …

Riyadh – Mubasher: Saudi Reinsurance Company (Saudi Re) has announced the completion of all procedures to conclude selling its entire 49.90% equity in the UK-based Probitas Holdings (Bermuda) Limited (PHBL) and its subsidiaries. Saudi Re exited …

Riyadh – Mubasher: Saudi Reinsurance Company (Saudi Re) has signed a binding subscription agreement with the Public Investment Fund (PIF) to increase its capital from SAR 891 million to SAR 1.15 billion. Saudi Re is set to increase its capital …

Riyadh – Mubasher: Gulf Union Al Ahlia Cooperative Insurance Company has obtained insurer financial strength (IFS) rating of ‘BBB+’ from Fitch Ratings. The company also received a national IFS rating of ‘AA-(sau)’ from the agency, according to a …

Riyadh – Mubasher: Elm Company has awarded a SAR 75.90 million health insurance contract for its employees to The Company for Cooperative Insurance. The agreement’s term amount for one year starting from 30 June 2024, according to a bourse filing. …

Riyadh – Mubasher: Gulf Insurance Group (GIG) announced the distribution of SAR 78.75 million, or SAR 1.50 per share, in cash dividends for 2023 on 30 June 2024. The shareholders eligible are those who own shares at the end of 29 May, according to …

Riyadh – Mubasher: Bupa Arabia for Cooperative Insurance Company has renewed a contract with Saudi Basic Industries Corporation (SABIC). Under the agreement, Bupa Arabia provides health insurance for SABIC’s employees and their families for one …

Riyadh – Mubasher: The Insurance Authority (AI) greenlighted, on 2 June, the request of Salama Cooperative Insurance Company to increase its capital by offering rights issues worth SAR 100 million. The company’s new capital will stand at SAR 300 …

Riyadh – Mubasher: Bank Aljazira has completed an off-market private transaction to buy 4.65 million shares in AlJazira Takaful Taawuni. The acquired stake represents 7.05% of the company’s capital, according to a bourse filing. Bank Aljazira …

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, …