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18 March 04:00 PM Saudi Enaya shifts to profitability in 2023
Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company turned to profitability during the full year 2023, recording a net profit after Zakat attributable to shareholders of SAR 20.22 million, compared to a net loss of SAR 6.35 million a year …
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18 March 01:52 PM Chubb Arabia’s net profit jumps 98% YoY in 2023
Riyadh – Mubasher: Chubb Arabia Cooperative Insurance Company recorded a 97.95% year-on-year (YoY) surge in net profit after Zakat attributable to shareholders to SAR 24.81 million in 2023 from SAR 12.53 million. The insurance revenues grew 10.05% …
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17 March 11:49 AM Arabian Shield’s net profit balloons 15,943% YoY in 2023
Riyadh – Mubasher: The net profit after Zakat attributable to shareholders of Arabian Shield Cooperative Insurance Company skyrocketed by more than 15,943% year-on-year (YoY) to SAR 65.13 million in 2023 from SAR 406,000. Insurance revenues rose …
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17 March 10:46 AM Allianz Saudi Fransi’s net profit jumps 331% YoY in 2023
Riyadh – Mubasher: Allianz Saudi Fransi Cooperative Insurance Company reported a 331.29% year-on-year (YoY) surge in net profit after Zakat attributable to shareholders to SAR 36.98 million in 2023 from SAR 8.57 million. Insurance revenues grew by …
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14 March 02:17 PM Al Etihad Cooperative’s net profit soars 640% YoY in 2023
Riyadh – Mubasher: Al Etihad Cooperative Insurance Company recorded a 639.22% year-on-year (YoY) jump in net profit after Zakat attributable to shareholders to SAR 93.89 million in 2023 from SAR 12.70 million. Insurance revenues grew 12.05% YoY to …
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13 March 11:24 AM Walaa Cooperative Insurance turns profitable in 2023
Riyadh – Mubasher: Walaa Cooperative Insurance Company shifted towards profitability in 2023, recording a net profit after Zakat attributable to shareholders of SAR 147.97 million, compared to a net loss of SAR 68.08 million a year earlier. …
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11 March 03:02 PM Ejaro, Tawuniya join forces to reshape Saudi car rental market
Riyadh – Mubasher: Ejaro partnered with The Company for Cooperative Insurance (Tawuniya) to boost the car rental market in line with Saudi Arabia's Vision 2030, according to a press release. Tawuniya led the Saudi peer-to-peer (P2P) car rental …
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7 March 01:07 PM Tawuniya’s net profit jumps 104% YoY in 2023
Riyadh – Mubasher: The Company for Cooperative Insurance (Tawuniya) logged a 103.98% year-on-year (YoY) surge in net profit after Zakat attributable to shareholders to SAR 616.42 million in 2023 from SAR 302.19 million. Insurance revenues jumped …
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4 March 02:15 PM Saudi Re pens agreement to sell GBP 120m stake in Probitas Holdings
Riyadh – Mubasher: Saudi Reinsurance Company (Saudi Re) has signed an agreement to sell its entire stake in insurance and reinsurance company Probitas Holdings (Bermuda) Limited and its subsidiary, which amounts to 49.90%, to Aviva Insurance …
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29 February 11:51 AM Al Rajhi Takaful’s net profit soars 353% YoY in 2023
Riyadh – Mubasher: The net profit after zakat attributable to shareholders of Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) surged 353.18% year-on-year (YoY) to SAR 328.06 million in 2023 from SAR 72.39 million. The insurance …
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20 February 11:50 AM United Cooperative appoints new Chairman, Vice Chairman
Riyadh – Mubasher: United Cooperative Assurance Company named Khalid Hussein Ali Reza as the Chairman of the board for three years. Khalid Ahmed Al Hamdan was announced as the Vice Chairman, according to a bourse disclosure. The two officials …
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18 February 11:45 AM GIG sells entire stake in Buruj Cooperative for SAR 122m
Riyadh – Mubasher: Buruj Cooperative Insurance Company has announced that its majority shareholder Gulf Insurance Group (GIG) entered a binding agreement to sell its entire stake in the company to Cigalah Trading Establishment for SAR 121.83 …
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7 February 12:19 PM Malath Insurance announces 2 key appointments
Riyadh – Mubasher: Malath Cooperative Insurance Company (Malath Insurance) has announced Bader Ali Alali as the Chairman of the board. In addition, the insurance firm named Mohammed Ali Alammari as the Vice Chairman, according to a bourse …
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30 January 02:14 PM Bupa Arabia posts 17% jump in 2023 net profits
Riyadh – Mubasher: Bupa Arabia for Cooperative Insurance Company recorded net profits after Zakat attributable to the owners valued at SAR 940.16 million in 2023, an annual rise of 16.77% from SAR 805.11 million. Insurance revenues jumped by …
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15 January 06:14 PM Bupa Arabia wins contract with Saudia
Riyadh - Mubasher: Bupa Arabia for Cooperative Insurance Company has been awarded a one-year contract with Saudi Arabian Airlines Corporation (Saudia) to provide health insurance services for its employees and their families, as well as retirees. …
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2 January 05:07 PM ACIG cancels stock split, maintains share value
Riyadh – Mubasher: The board of Allied Cooperative Insurance Group (ACIG) reversed its decision to split the nominal value of the share from SAR 10 per share to SAR 0.10 per share during its 6 December 2023 meeting.  The board decided to maintain …
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31 December 2023 10:20 AM CMA greenlights Gulf General’s capital reduction
Riyadh – Mubasher: The Capital Market Authority (CMA) approved the request of Gulf General Cooperative Insurance Company to reduce its capital by SAR 200 million, according to a bourse filing. Following the transaction, the new capital will stand …
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28 December 2023 02:56 PM Bupa Arabia inks SAR 337.5m insurance agreement with SNB
Riyadh – Mubasher: Bupa Arabia for Cooperative Insurance Company was awarded a SAR 337.33 million insurance deal from the Saudi National Bank (SNB) on 26 December 2023, according to a bourse statement. Under the agreement, the listed company will …
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27 December 2023 03:35 PM Saudi Enaya, United Cooperative’s shareholders give different votes for merger
Riyadh – Mubasher: The extraordinary general meeting (EGM) of Saudi Enaya Cooperative Insurance Company rejected the merger offer submitted by United Cooperative Assurance Company, while the latter’s shareholders approved merging into Saudi Enaya, …
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26 December 2023 00:07 PM Al Sagr Cooperative names new Chairman, Vice Chairman
Riyadh – Mubasher: Al Sagr Cooperative Insurance Company appointed Saud Saleh Al Arifi as the new Chairman of the board for the next three years. The insurance firm also named Naif Rashed Alarfaj as the Vice Chairman, according to a bourse …
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4 December 2023 11:36 AM Buruj Cooperative names Al Ghunaim as Acting CEO
Riyadh – Mubasher: Buruj Cooperative Insurance Company appointed Bader bin Saad Al Ghunaim as an acting CEO in addition to his current duties for the coming six months. Al Ghunaim succeeded Abdulrahman Al Dokheel, who resigned from his position as …
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4 December 2023 10:34 AM Al Rajhi Takaful unveils capital hike to SAR 1bn
Riyadh – Mubasher: The shareholders of Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) agreed to increase its capital by 150% to SAR 1 billion from SAR 400 million. Al Rajhi Takaful will transfer SAR 600 million from the retained …
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3 December 2023 02:24 PM Arabia Insurance appoints new Chairman, Vice Chairman
Riyadh – Mubasher: Arabia Insurance Cooperative Company has named Abdulaziz Saleh Al Omair as the Chairman of the board for the next three years. Muneer Butros Mouasher was announced as the Vice Chairman, according to a bourse disclosure. The two …
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23 November 2023 09:11 PM Chubb Arabia renews SAR 52m insurance contract with Sipchem
Riyadh – Mubasher: Chubb Arabia Cooperative Insurance Company recently received a renewal confirmation for a SAR 52.19 million insurance coverage contract from Sahara International Petrochemical Company (Sipchem). Under the one-year contract, …
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23 November 2023 05:59 PM Arabia Insurance announces Chairman resignation
Riyadh – Mubasher: The board of Arabia Insurance Cooperative Company recently accepted the resignation of Abdulaziz Abdulhadi Al Qahtani from his position as a non-executive Chairman. Al Qahtani stepped down from his position due to work …