Gulf General Cooperative Insurance Co (8260)

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News

19 March 03:53 PM Gulf General shifts to profitability in 2023; board proposes capital hike

Riyadh – Mubasher: Gulf General Cooperative Insurance Company turned to profitability in 2023, recording a net profit after Zakat attributable to shareholders of SAR 3.53 million, compared to a net loss of SAR 106.01 million a year earlier. …

Corporate Actions

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 …

Management Decisions

23 November 2023 02:59 PM Gulf General appoints financial advisor for capital cut

Riyadh – Mubasher: Gulf General Cooperative Insurance Company has appointed Yaqeen Capital as the financial advisor to manage the procedures for the capital reduction process on 22 November 2023. Through the decrease process, the insurance firm …

Corporate Actions

6 November 2023 05:56 PM Gulf General shifts to profits in Q3, 9M-23; accumulated losses reach SAR 247m

  Riyadh – Mubasher: Gulf General Cooperative Insurance Company turned to a net profit before Zakat of SAR 1.27 million in the first nine months (9M) of 2023, versus a net loss of SAR 54.38 million in 9M-22. The loss per share edged down to SAR …

Banking and Finance

20 June 2023 03:14 PM Gulf General turns profitable in Q1-23; accumulated losses unveiled

Riyadh – Mubasher: Gulf General Cooperative Insurance Company shifted to net profits before Zakat valued at SAR 4.97 million in the first quarter (Q1) of 2023, against net losses worth SAR 18.20 million in Q1-22. Gross written premiums (GWP) …

Financial Results

12 December 2022 04:47 PM Gulf General names Allagany as new CEO

Riyadh – Mubasher: Gulf General Cooperative Insurance Company has appointed Khalid Gaafar Allagany as the new CEO of the company on 9 November 2022. The Saudi Central Bank (SAMA) granted its approval for the appointment, according to a bourse …

Corporate Actions

21 August 2022 07:11 PM Gulf General registers lower losses in H1-22; accumulated losses unveiled

Riyadh – Mubasher: Gulf General Cooperative Insurance Company has suffered net losses before Zakat of SAR 34.60 million during the first half (H1) of 2022, down 19.76% from SAR 43.12 million in H1-21. The loss per share stood at SAR 0.74 in the …

Financial Results

5 July 2022 03:57 PM Gulf General pens insurance deal with Al Rashid Trading

Riyadh – Mubasher: Gulf General Cooperative Insurance Company has inked a health insurance contract with Al Rashid Trading and Contracting Company at a value exceeding 5% of the insurer's 2021 revenues. Under the agreement which was awarded and …

Companies Investments

27 June 2022 02:44 PM Gulf General names new Chairman, Vice Chairman

Riyadh – Mubasher: Gulf General Cooperative Insurance Company has appointed Jamal Abdullah Al Dabbagh as the Chairman of the board for a three-year term. The company also named Saud Abdulaziz Al Sulaiman as the new Vice Chairman for the same …

Management Decisions

30 May 2022 00:17 PM Gulf General wins insurance services contract with Al Wefaq Transport

Riyadh – Mubasher: Gulf General Cooperative Insurance Company has been awarded a contract to provide insurance services for the vehicle fleet with Al Wefaq Transport Solutions Company. The one-year contract’s value is more than 10% of the …

Companies Investments

18 May 2022 01:53 PM Gulf General's losses down 23% in Q1-22 interim financials

Riyadh – Mubasher: The net losses before Zakat of Gulf General Cooperative Insurance Company retreated by 22.82% year-on-year (YoY) to SAR 18.07 million in the first quarter (Q1) of 2022 from SAR 23.41 million, according to the company's interim …

Financial Results

16 August 2021 05:52 PM Gulf General incurs SAR 43m losses in H1-21; accumulated losses hit SAR 84m

Riyadh – Mubasher: Gulf General Cooperative Insurance Company suffered net losses before Zakat worth SAR 43.12 million during the first half (H1) of 2021, against net profits worth SAR 14.49 million in H1-20. The loss per share stood at SAR 2.21 …

Financial Results

1 August 2021 10:34 AM Gulf General raises SAR 140.5m from unsubscribed rights issue shares

Riyadh – Mubasher: Gulf General Cooperative Insurance Company has sold 8.28 million shares representing the remaining unsubscribed rights issue portion at an average price of SAR 16.97 a share. The total value of the sold shares stood at SAR …

Corporate Actions

26 July 2021 11:15 AM Gulf General’s rights issue coverage exceeds 72%

Riyadh – Mubasher: A total of 21.71 million shares out of 30 million offered shares were subscribed during Gulf General Cooperative Insurance Company’s rights issue. The value of the subscribed shares amounted to SAR 217.16 million, with …

Corporate Actions

4 July 2021 05:26 PM Tadawul announces Gulf General’s rights issue subscription period

Riyadh – Mubasher: Saudi Exchange (Tadawul) said trading and subscription to Gulf General Cooperative Insurance Company’s rights issue will begin on Monday, 5 July. Tadawul added that the trading period will end on Monday, 12 July, while the …

Management Decisions

29 June 2021 11:43 AM Gulf General’s shareholders nod to 150% capital hike, fluctuation limit announced

Riyadh – Mubasher: The shareholders of Gulf General Cooperative Insurance Co gave the green light for increasing the capital by 150% or SAR 300 million through a rights issue. The new capital will amount to SAR 500 million distributed over 50 …

Management Decisions

17 June 2020 03:18 PM Gulf General moves to losses in Q1-20

Riyadh – Mubasher: Gulf General Cooperative Insurance Company registered SAR 3.7 million worth of net losses before Zakat in the first quarter (Q1) of 2020, against net profits of SAR 2.6 million in the comparative period a year earlier. The …

Financial Results

20 October 2019 05:12 PM Gulf General appoints FALCOM to advise on capital raise

Riyadh – Mubasher: Gulf General Cooperative Insurance Co. announced the appointment of FALCOM Financial Services as a financial advisor to manage the subscription to the company’s capital raise through a rights issue. Any further developments …

Corporate Actions

3 July 2019 01:52 PM SAMA approves Gulf General’s capital raise proposal

Riyadh – Mubasher: Gulf General Cooperative Insurance Company has received the approval of the Saudi Arabian Monetary Authority (SAMA) regarding the board’s proposal of capital raise. The company will increase its capital by SAR 300 million via …

Central Banks

3 July 2019 11:32 AM Gulf General inks health insurance contract with Al Rashid Trading

Riyadh – Mubasher: Gulf General Cooperative Insurance Company has signed a health insurance agreement with Al Rashid Trading and Contracting Company. Under the deal, Gulf General will provide insurance services to Al Rashid’s staff and their …

Companies Investments

2 February 2017 10:39 AM Gulf General appoints Lanjawi as new CEO

Riyadh – Mubasher:  Gulf General Cooperative Insurance Co. announced on Thursday the resignation of its CEO Geoffrey Blofeld. Blofelds resignation was due to for personal reasons and will be effective as of 1 February, according to a bourse …

Management Decisions

14 December 2016 10:32 AM SAMA approves insurance products for 2 KSA firms

Riyadh – Mubasher: Two Saudi insurance companies obtained the final approval to use insurance products, according to bourse filings. Gulf General Cooperative Insurance Co. and Salama Cooperative Insurance Company received the final approval of the …

Corporate Actions

18 February 2016 10:07 AM Gulf General Insurance OGM elects board members

Riyadh-Mubasher: Gulf General Cooperative Insurance said its ordinary general meeting (OGM) held on 17 February  elected board members for the next three-year term. Shareholders elected Jamal Al-Dabbagh as chairman, and elected the members of the …

Board of Directors

31 January 2016 08:57 AM Gulf General halted from issuing vehicle policies

Riyadh-Mubasher: Gulf General Cooperative Insurance was suspended by the Council of Cooperative Health Insurance from issuing vehicle insurance policies, the company said in a bourse statement. The insurer expects the decision to have a negative …

Corporate Actions

19 January 2016 08:39 AM Gulf General calls off general meeting

Riyadh-Mubasher: Gulf General Cooperative Insurance said its ordinary general meeting, scheduled for 18 January, was postponed, due to lack of quorum. The date of the rescheduled meeting will be announced after obtaining the approval of competent …

Corporate Actions