Solidarity Saudi Takaful Co

Riyadh – Mubasher: Solidarity Saudi Takaful Company’s net losses before Zakat amounted to SAR 69.8 million during 2020, an increase of 59% from SAR 43.9 million in 2019. The hike in the insurer's annual losses was ascribed to lower gross written …

Riyadh – Mubasher: Solidarity Saudi Takaful Company’s board of directors accepted the resignation of the company’s CEO, Bader bin Khalid Alanzi, that was submitted for personal reasons. The board’s decision will take effect on 1 April 2021, …

Riyadh – Mubasher: The extraordinary general meeting (EGM) of Aljazira Takaful Taawuni Company approved raising the firm’s capital from SAR 350 million to SAR 470.7 million to merge with Solidarity Saudi Takaful Company. The EGM consented …

Riyadh – Mubasher: The Capital Market Authority (CMA) approved Aljazira Takaful Taawuni Company’s request to increase its capital from SAR 350 million to SAR 470.6 million by issuing 12.1 million ordinary shares to merge with Solidarity Saudi …

Riyadh – Mubasher: Aljazira Takaful Taawuni Company announced receiving a no-objection letter from the Saudi Central Bank (SAMA) to merge with Solidarity Saudi Takaful Company. The two insurers will continue working to obtain other necessary …

Riyadh – Mubasher: Solidarity Saudi Takaful Company has terminated the agency agreement it had signed with Wattad National Insurance Company on 13 October 2020 to market and sell its insurance products.   The termination comes as the agent is …

Riyadh – Mubasher: Solidarity Saudi Takaful Company’s net losses levelled up by 0.37% in the second quarter (Q2) of 2020 to stand at SAR 26.63 million, compared with SAR 26.53 million in the corresponding period a year earlier. The company said …

Riyadh – Mubasher: Aljazira Takaful Taawuni Company has signed a binding merger agreement with Solidarity Saudi Takaful Company on 23 August 2020 to acquire the latter’s entire issued shares. The merger will be implemented via a share swap where …

Riyadh - Mubasher: Five Saudi companies listed on the Saudi Stock Exchange (Tadawul) on Thursday announced the impact of the General Traffic Department’s recent mandate obliging all vehicle owners to carry effective motor insurance before the …

Riyadh – Mubasher: Solidarity Saudi Takaful Company and Aljazira Takaful Taawuni Company have signed an amended non-binding memorandum of understanding (MoU) to evaluate a potential merger between the two firms. Accordingly, the two companies will …

Riyadh – Mubasher: Solidarity Saudi Takaful Company (Solidarity) posted a 122.28% year-on-year hike in its losses for the third quarter of 2019, suffering SAR 21.5 million. The company’s gross written premiums (GWP) jumped by 113.16% to SAR 127 …

Riyadh – Mubasher: Al Jazira Takaful Taawuni Company has appointed FALCOM Financial Services as a financial adviser instead of Al Jazira Capital. The new adviser will manage the potential merger with Solidarity Saudi Takaful Company, according to …

Riyadh – Mubasher: Solidarity Saudi Takaful has signed a non-exclusive marketing agreement with Wattad Insurance Company to market and sell commercial and individual insurance policies across Saudi Arabia. The agreement’s term will start from 9 …

Riyadh – Mubasher: Solidarity Saudi Takaful Company and Aljazira Takaful Taawuni Company signed a non-binding memorandum of understanding (MoU) for a potential merger between the two companies. Both companies will conduct technical, financial, …

Riyadh – Mubasher: Solidarity Saudi Takaful Company’s (Solidarity) shareholders approved transferring SAR 3.69 million, resulting from capital cut in 2017, from other reserves account to retained earnings account during an extraordinary general …

By: Thabet Shehata Riyadh – Mubasher: A total of 16 insurance firms listed on the Saudi Stock Exchange (Tadawul) reported a combined net loss of SAR 213 million in 2018. The Company for Cooperative Insurance (Tawuniya) posted the highest net …

Riyadh – Mubasher: Solidarity Saudi Takaful on Sunday turned to losses in the fourth quarter of 2017, against achieving profits in the corresponding period in the prior year. The firm’s losses reached SAR 2.9 million during Q4-17, against SAR 16.5 …

Riyadh – Mubasher: Solidarity Saudi Takaful on Wednesday announced that its profits in the third quarter of 2017 hiked 39%, as compared to the year-ago period. Profits increased to SAR 19.6 million, as compared to SAR 14.1 million in Q3-16, …

Riyadh - Mubasher: Solidarity Saudi Takaful reported a rise in profits in the second quarter of 2017 before zakat by 36.3% year-on-year, and by 21.3% quarter-on-quarter. The company said in a statement to the Saudi Stock Exchange (Tadawul) on …

Riyadh – Mubasher: Solidarity Saudi Takaful on Sunday received the approval of the Council of Cooperative Health Insurance (CCHI) to reissue health insurance policies as per the developed system. The company noted that it will announce the …

Riyadh – Mubasher: Solidarity Saudi Takaful net profits hiked 206.71% in the first quarter of 2017. Net profits before zakat reached SAR 10.64 million ($2.84 million) in Q1-17 compared to SAR 3.47 million ($924,800) in the year-ago period, …

Riyadh – Mubasher: Solidarity Saudi Takaful ended on Thursday its contractual relation with Panorama Elite Company for Cooperative Insurance Agency. The agreement’s cancellation has no negative impact on the company, according to a bourse filing …

Riyadh – Mubasher: Solidarity Saudi Takaful fell 3.1% to SAR 20, exchanging 1.4 million shares at a value of SAR 28.77 million through 1,340 transactions, by 01:35pm KSA time. Saudi Capital Market Authority (CMA) announced the suspension of …

Riyadh – Mubasher: Saudi Capital Market Authority (CMA) announced the suspension of trading the shares of Solidarity Saudi Takaful starting from 11:00am until 01:00pm on Monday. The suspension comes as per the company's request as it will announce …

Riyadh – Mubasher: Saudi Arabia’s Council of Cooperative Health Insurance (CCHI) suspended Solidarity Saudi Takaful as of Monday for violating regulations. The suspension was due to breaches in selling the CCHI policies and violations of the …