Amana Cooperative Insurance Co (8310)

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News

9 September 03:20 PM Amana Cooperative Insurance appoints financial advisor for capital reduction

Riyadh - Mubasher: Amana Cooperative Insurance Company has appointed Audi Capital as its financial advisor to manage the company’s proposed capital reduction process. The appointment, effective 8 September 2026, follows a previous board …

Corporate Actions

11 August 11:50 AM Amana Cooperative Insurance mulls 30% capital reduction to offset losses

Riyadh - Mubasher: The board of Amana Cooperative Insurance Company recommended a 30% reduction in the company’s capital to restructure its finances and extinguish accumulated losses. Under the proposal, the capital will decrease from SAR 430 …

Company News

6 August 08:16 AM Amana Cooperative’s net losses deepen to SAR 23m in H1-26

Riyadh - Mubasher: The net losses after Zakat of Amana Cooperative Insurance Company hiked to SAR 23.23 million in the first half (H1) of 2026 from SAR 249,000 a year earlier. The company’s accumulated losses reached SAR 211.05 million as of 30 …

Company News

28 June 05:15 PM Amana Cooperative’s shareholders greenlight 2025 financial report, auditor appointment

Riyadh - Mubasher: Amana Cooperative Insurance Company held its Ordinary General Meeting (OGM) on 25 June 2026, where shareholders approved the company’s financial results for 2025 and ratified several key governance and operational decisions. The …

Banking and Finance

4 January 05:18 PM Amana Cooperative appoints new Chairman, Vice Chairman

Riyadh - Mubasher: Amana Cooperative Insurance Company announced Abdullah Othman Al Musa as the board’s Chairman for the next four years. Meanwhile, Naif Faisal Al Sudairi was appointed as the Vice Chairman, according to a bourse filing. The two …

Management Decisions

24 March 2024 11:56 AM Amana Cooperative Insurance shifts to profitability in 2023

Riyadh – Mubasher: Amana Cooperative Insurance Company turned to profitability in 2023, recording a net profit after Zakat attributable to shareholders of SAR 25.43 million, compared to a net loss of SAR 48.18 million a year earlier. Insurance …

Banking and Finance

7 November 2023 05:08 PM Amana turns to nearly SAR 31.5m net profits in 9M-23; accumulated losses unveiled

Riyadh – Mubasher: Amana Cooperative Insurance Company reported SAR 31.47 million worth of net profits before Zakat in the first nine months (9M) of 2023, compared to a net loss of SAR 51.84 million in the same period of 2022. The earnings per …

Banking and Finance

4 October 2022 03:24 PM Amana appoints new Chairman, Vice Chairman

Riyadh – Mubasher: Amana Cooperative Insurance Company has named Abdullah Othman Almusa as the new Chairman of the board for the next three years. The Tadawul-listed insurer also announced Tareq Abdullah Algaraawy as the Vice Chairman, according …

Corporate Actions

4 September 2022 09:31 AM Amana Cooperative, ACIG discuss potential merger

Riyadh - Mubasher: Amana Cooperative Insurance Company has inked a non-binding memorandum of understanding (MoU) with Allied Cooperative Insurance Group (ACIG) to evaluate a potential merger between the two companies. The two insurers will conduct …

Corporate Actions

25 August 2022 08:41 PM Amana’s accumulated losses retreat to 45% of capital

Riyadh - Mubasher: The accumulated losses of Amana Cooperative Insurance Company shrank to SAR 194.95 million at the end of the first half (H1) of 2022, accounting for 45.34% of the capital. The lower accumulated losses followed a capital raise to …

Corporate Actions

21 June 2022 06:41 PM Amana Cooperative Insurance’s rights issue 72% covered

Riyadh – Mubasher: Amana Cooperative Insurance Company has registered a 71.91% coverage rate of its right issue and subscription volume. A total of 21.57 million shares were subscribed at a value of SAR 215.73 million, according to a bourse …

Companies Investments

30 May 2022 11:22 AM Amana’s EGM nods to 231% capital hike

Riyadh – Mubasher: The extraordinary general meeting (EGM) of Amana Cooperative Insurance Company has approved the board’s recommendation to increase the capital by SAR 300 million. The 230.70% capital hike will be carried out by offering a right …

General Assembly

23 May 2022 05:35 PM CMA approves capital raise of Amana, Arabia Insurance

Riyadh - Mubasher: The Capital Market Authority (CMA) has approved the request of Amana Cooperative Insurance Company and Arabia Insurance Cooperative Company to raise their capital via a rights issue. Amana seeks to increase its capital by way of …

Management Decisions

28 April 2022 05:15 PM SAMA approves Amana’s capital hike

Riyadh - Mubasher: The Saudi Central Bank (SAMA) has agreed to increase Amana Cooperative Insurance Company’s capital to SAR 430 million from SAR 130 million through a rights issue. SAMA granted its green light for the capital hike’s …

Central Banks

18 January 2022 00:03 PM Amana’s board approves SAR 300m capital raise

Riyadh - Mubasher: The board of Amana Cooperative Insurance Company has recommended a capital increase of SAR 300 million through a rights issue. The company will utilise the amount of the capital raise to support its future plans and strengthen …

Board of Directors

10 January 2022 10:12 AM Amana's EGM approves merger with Saudi Enaya; Enaya rejects offer

Riyadh – Mubasher: The extraordinary general meeting (EGM) of Amana for Cooperative Insurance Company has approved the merger with Saudi Enaya Cooperative Insurance Company. During its meeting, the EGM has also agreed on an increase of the …

Companies Investments

15 July 2021 03:33 PM Amana receives GAC’s approval for merger with Saudi Enaya

Riyadh – Mubasher: Amana for Cooperative Insurance Company said that the Saudi General Authority of Competition has issued a non-objection note for the merger with Saudi Enaya for Cooperative Company on 14 July. The agreement is still subject to …

Mergers and Acquisitions

24 May 2021 00:21 PM Amana’s shareholders nod to 46% capital cut; fluctuation limit announced

Riyadh – Mubasher: The shareholders of Amana Cooperative Insurance Company approved reducing the capital by 45.8% or SAR 110 million, according to a bourse filing on Monday. The new capital will become SAR 130 million distributed over 13 million …

General Assembly

2 May 2021 00:45 PM Amana, Saudi Enaya finalise merger agreement

Riyadh – Mubasher: Amana Cooperative Insurance Company and Saudi Enaya Cooperative Insurance Company have signed a binding merger agreement, according to a disclosure to Tadawul on Sunday. Amana will issue new ordinary shares in consideration of …

Companies Investments

26 January 2021 09:18 AM Amana Cooperative receives go-ahead for SAR 110m capital cut

Riyadh – Mubasher: Amana Cooperative Insurance Company has received the go-ahead from the Saudi Central Bank (SAMA) to cut the company’s capital by 45.8% or SAR 110 million, according to a stock exchange statement on Tuesday.  The insurer’s …

Companies Investments

8 December 2020 09:07 AM Amana Cooperative’s board proposes 45.8% capital cut

Riyadh – Mubasher: Amana Cooperative Insurance Company’s board recommended decreasing the company’s capital by 45.83% to amortise accumulated losses worth SAR 110 million as of 30 September 2020. Hence, the insurer’s capital will be cut to SAR 130 …

Board of Directors

16 November 2020 10:16 AM Saudi Enaya, Amana ink MoU to evaluate potential merger

Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company inked a non-binding memorandum of understanding (MOU) with Amana Cooperative Insurance Company to evaluate a potential merger between the two companies. Both companies will conduct …

Companies Investments

8 November 2020 00:52 PM Amana Cooperative swings to quarterly loss

Riyadh – Mubasher: Amana Cooperative Insurance Company turned to a net loss of SAR 30.7 million during the third quarter (Q3) of this year, versus a net profit of SAR 1.99 million in the same quarter in 2019. The move to losses during Q3-20 is …

Financial Results

5 October 2020 09:29 AM Saudi Enaya, Amana Cooperative in early talks for potential merger

Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company has started initial discussions with Amana Cooperative Insurance Company to explore the possibility of a merger between the two companies. In case an initial agreement is reached, a …

Mergers and Acquisitions

23 August 2020 10:10 AM Amana Cooperative turns profitable in Q2-20

Riyadh – Mubasher: Amana Cooperative Insurance Company moved to net profits before Zakat of SAR 4.6 million during the second quarter (Q2) of 2020, versus net losses of SAR 4.3 million in the same period in the previous year. The turn to profits …

Financial Results