Amana Cooperative Insurance Co (8310)

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News

4 January 03:18 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 09:56 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 03:08 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 01:24 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 …

Management Decisions

4 September 2022 07:31 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 06:41 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 04:41 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 09:22 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 03:35 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 03:15 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 …

Corporate Actions

18 January 2022 10:03 AM 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 …

Corporate Actions

10 January 2022 08:12 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 …

Mergers and Acquisitions

15 July 2021 01:33 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 …

Companies Investments

24 May 2021 10:21 AM 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 …

Management Decisions

2 May 2021 10:45 AM 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 07:18 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 07:07 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 …

Management Decisions

16 November 2020 08:16 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 …

Mergers and Acquisitions

8 November 2020 10:52 AM 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 07:29 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 08:10 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

28 July 2020 09:49 AM Amana Cooperative to offer medical insurance for Sidr Group

Riyadh – Mubasher: Amana Cooperative Insurance Company was awarded a contract to provide cooperative health insurance services for the employees of Sidr Group Company for Trading and Contracting and their families for one year effective as of 10 …

Companies Investments

23 July 2020 07:18 AM Amana Cooperative trims accumulated losses to 35% of capital

Riyadh – Mubasher: Amana Cooperative Insurance Company on Thursday said that its accumulated losses were below 35% of the paid-up capital (34.77%) in the first quarter (Q1) of 2020. The insurer attributed the decline in losses to the 7% annual …

Financial Results

18 June 2020 07:07 AM Amana Cooperative turns to profitability in Q1-20

Riyadh – Mubasher: Amana Cooperative Insurance Company turned profitable in the first quarter (Q1) of 2020, recording net profits before Zakat of SAR 2.4 million, versus net losses of SAR 20.7 million, as shown in the company's initial financial …

Financial Results

14 January 2020 02:42 PM Amana Cooperative renews SAR 22.7m health insurance deal

Riyadh – Mubasher: Amana Cooperative Insurance Company announced the renewal of El Seif Engineering Contracting Company’s health insurance policy. The renewed policy involves presenting health insurance services to the contracting company’s staff …

Companies Investments