Saudi Enaya Cooperative Insurance Co (8311)

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News

11 September 2024 08:57 AM Saudi Enaya obtains regulatory nod for capital raise

Riyadh – Mubasher: The Capital Market Authority (CMA) approved the request of Saudi Enaya Cooperative Insurance Company to raise its capital by SAR 150 million. The insurance firm aims to increase its capital to SAR 380 million from SAR 230 …

Corporate Actions

14 July 2024 01:00 PM Saudi Enaya enters into insurance agreement with Fakeeh Care

Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company has been awarded and signed an insurance contract with Dr. Soliman Abdel Kader Fakeeh Hospital Company (Fakeeh Care Group) on 12 July 2024. Saudi Enaya received a confirmation to provide …

Banking and Finance

18 April 2024 08:54 AM Saudi Enaya submits capital hike request to CMA

Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company submitted an application file to the Capital Market Authority (CMA) on 17 April 2024 to increase its capital to SAR 380 million. The insurance firm plans to raise its capital by offering …

Management Decisions

18 March 2024 01:00 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 …

Banking and Finance

27 December 2023 00:35 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, …

Mergers and Acquisitions

21 November 2023 00:04 PM CMA approves United Cooperative’s capital raise for merger with Saudi Enaya

Riyadh – Mubasher: The Capital Market Authority (CMA) recently approved United Cooperative Assurance Company’s (UCA) request to increase its capital by SAR 192.60 million to conclude the merger with Saudi Enaya Cooperative Insurance Company. …

Corporate Actions

5 November 2023 02:16 PM Saudi Enaya swings to profits in 9M-23, unveils over SAR 42.5m accumulated losses

Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company achieved a net profit before Zakat of SAR 20.76 million in the first nine months (9M) of 2023, compared with a net loss of SAR 13.57 million in 9M-22. Earnings per share (EPS) reached …

Financial Results

24 November 2022 00:25 PM Saudi Enaya raises over SAR 80m in rights issue

Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company recorded a 61.66% coverage of its rights issue and new shares subscription at a value of SAR 80.15 million. A total of 8.01 million shares out of 13 million shares were subscribed, …

Corporate Actions

19 October 2022 02:27 PM Saudi Enaya’s shareholders nod to over 33% capital cut

Riyadh – Mubasher: The shareholders of Saudi Enaya Cooperative Insurance Company have agreed to decrease its capital by 33.33% to SAR 100 million from SAR 150 million. The capital reduction will be carried out by cancelling 5 million shares, …

Corporate Actions

21 September 2022 03:06 PM CMA approves Saudi Enaya’s capital reduction

Riyadh – Mubasher: The Capital Market Authority (CMA) greenlighted Saudi Enaya Cooperative Insurance Company’s request to decrease the capital to SAR 100 million from SAR 150 million. The reduced capital will be distributed over 10 million shares, …

Corporate Actions

14 July 2022 02:50 PM Saudi Enaya extends insurance deal with DSFH

Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company has renewed its health insurance contract with Dr. Soliman Fakeeh Hospital (DSFH) at an amount of SAR 28.82 million. Upon the deal that was awarded and signed on 6 July 2022, Saudi Enaya …

Companies Investments

10 January 2022 07:12 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

2 November 2021 01:03 PM Saudi Enaya’s losses deepen in Q3, nine months

Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company posted net losses before Zakat worth SAR 12.82 million in the third quarter (Q3) of 2021, higher by 27% than SAR 10.1 million in Q3-20. During the first nine months of 2021, the …

Financial Results

17 August 2021 00:33 PM Saudi Enaya’s H1-21 losses widen 147%; accumulated losses total SAR 60.5m

Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company reported net losses before Zakat worth SAR 29.69 million in the first half (H1) of 2021, an increase of 147% from SAR 12.02 million in H1-20. The loss per share deepened to SAR 2.08 in …

Financial Results

25 July 2021 10:58 AM Saudi Enaya renews SAR 24m contract with DSFH

Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company has renewed its health insurance provider contract with Dr. Soliman Fakeeh Hospital (DSFH) for SAR 24.19 million, according to a bourse disclosure on Sunday. The contract is effective …

Companies Investments

15 July 2021 00:33 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

5 July 2021 07:28 AM Saudi Enaya receives CCHI’s nod to renew licence

Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company has obtained the Council of Cooperative Health Insurance’s (CCHI) approval to renew its cooperative health insurance licence for one year, according to a bourse disclosure on Monday. The …

Corporate Actions

17 May 2021 07:05 AM Saudi Enaya’s Q1 losses deepen 106%

Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company incurred a net loss before Zakat worth SAR 21.13 million during the first quarter (Q1) of 2021, marking an annual increase of 106% from SAR 10.25 million. The company posted a loss per …

Financial Results

2 May 2021 09:45 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 …

Mergers and Acquisitions

18 April 2021 11:23 AM Saudi insurance sector’s net income shrinks 69% in Q4-20 – Aljazira Capital

Riyadh – Mubasher: The insurance sector in Saudi Arabia registered a drop of 69.1% year-on-year (YoY) in net income at SAR 94.5 million during the fourth quarter of 2020 (Q4-20). Net income before Zakat totalled SAR 266.2 million in Q4-20, …

Sector Reports

14 April 2021 07:44 AM Saudi Enaya appoints new Chairman, Vice Chairman

Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company has appointed Amr Muhammad Khaled Khashoggi as the new Chairman of the board, according to a bourse disclosure to Tadawul. The company also named Faisal Farouk Tamer as the Vice …

Board of Directors

16 November 2020 07:16 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

2 November 2020 07:15 AM Saudi Enaya losses down 69% in Q3

Riyadh – Mubasher: The net losses before Zakat of Saudi Enaya Cooperative Insurance Company came in at SAR 10.1 million in the third quarter (Q3) of 2020, down by 69.3% when compared to SAR 32.9 million in the prior-year period. The lower …

Financial Results

5 October 2020 06:29 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

31 August 2020 11:19 AM GlobeMed announces third-party administration deal with Saudi Enaya

Riyadh – Mubasher: GlobeMed Saudi on Monday announced its collaboration with Saudi Enaya Cooperative Insurance Company in a three-year third-party administration (TPA) agreement that is expected to drive the Saudi insurance sector. The deal, which …

Companies Investments