Salama Cooperative Insurance Co (8050)

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News

5 October 08:32 AM Salama Cooperative, Bawan announce new leadership appointments

Riyadh - Mubasher: Salama Cooperative Insurance Company appointed Montaser Mohammed Foudah as the board’s Chairman for four years. Fahad Talal Kurdi was named as the Vice Chairman until 10 September 2029, according to a bourse filing. Meanwhile, …

Corporate Actions

11 March 02:53 PM Salama Cooperative reports over 41% decline in 2024 net profit; accumulated losses revealed

Riyadh – Mubasher: The net profit after Zakat attributable to the owners of Salama Cooperative Insurance Company amounted to SAR 30.12 million in 2024, marking a 41.28% decrease from SAR 51.30 million in 2023. The insurance revenues fell by 15.43% …

Financial Results

3 June 2024 03:10 PM Salama Cooperative obtains IA’s nod for capital hike

Riyadh – Mubasher: The Insurance Authority (IA) greenlighted, on 2 June, the request of Salama Cooperative Insurance Company to increase its capital by offering rights issues worth SAR 100 million. The company’s new capital will stand at SAR 300 …

Corporate Actions

19 March 2024 02:05 PM Salama Cooperative eyes SAR 100m capital raise

Riyadh – Mubasher: The board members of Salama Cooperative Insurance Company proposed a capital hike to SAR 300 million by offering rights issues valued at SAR 100 million, according to a bourse statement.   The board’s recommendation, which was …

Board of Directors

6 November 2023 07:03 PM Salama Cooperative turns profitable in Q3-, 9M-23; accumulated losses unveiled

Riyadh – Mubasher: Salama Cooperative Insurance Company posted net profits before Zakat of SAR 45.97 million in the first nine months (9M) of 2023, shifting from a net loss of SAR 80.60 million in 9M-22. The earnings per share (EPS) reached SAR …

Banking and Finance

23 November 2022 02:57 PM Salama Cooperative receives SAMA’s nod to capital hike

Riyadh – Mubasher: Salama Cooperative Insurance Company has obtained the Central Bank of Saudi Arabia’s (SAMA) approval to increase the capital by SAR 100 million. The insurer will offer primary rights shares to raise the capital from SAR 100 …

Management Decisions

24 July 2022 04:25 PM CMA approves Salama Cooperative Insurance’s 60% capital cut

Riyadh – Mubasher: The Capital Market Authority (CMA) has greenlighted Salama Cooperative Insurance Company’s request to shrink its capital by SAR 150 million. Subject to the extraordinary general meeting’s (EGM) approval, the insurer will reduce …

Management Decisions

26 May 2022 05:16 PM Salama Cooperative Insurance submits capital reduction request to CMA

Riyadh – Mubasher: Salama Cooperative Insurance Company has submitted a request to the Capital Market Authority (CMA) on 25 May to decrease its capital. The Saudi listed firm noted that it will disclose any further details regarding the capital …

Management Decisions

17 March 2022 05:49 PM Salama Cooperative Insurance recommends 60% capital cut

Riyadh – Mubasher: The board of Salama Cooperative Insurance Company has recommended reducing the company’s capital by 60% from SAR 250 million to SAR 100 million. By cancelling 15 million shares, the number of shares will decrease from 25 million …

Management Decisions

22 December 2021 06:39 PM SAMA renews licence for Salama Cooperative Insurance

Riyadh – Mubasher: The Saudi Central Bank (SAMA) has approved for Salama Cooperative Insurance Company to renew its licence of practicing insurance activity in the Kingdom. The Saudi listed company will be authorised to practice general as well as …

Corporate Actions

23 November 2021 10:50 AM Salama Cooperative Insurance appoints new CEO

Riyadh – Mubasher: Salama Cooperative Insurance Company has appointed Bader Khalid Alanzi as the company's CEO effective from 1 December 2021. The company has taken this decision after obtaining no objection from the Saudi Central Bank (SAMA), …

Management Decisions

16 August 2021 02:39 PM Salama Cooperative Insurance logs SAR 3m profits in H1-21

Riyadh – Mubasher: Salama Cooperative Insurance Company reported a 62% annual decrease in net profits before Zakat at SAR 2.75 million during the first half (H1) of 2021, compared to SAR 7.29 million in the same period last year. Net written …

Financial Results

20 September 2020 10:15 AM Salama Cooperative Insurance cuts accumulated losses by 6.5%

Riyadh – Mubasher: Salama Cooperative Insurance Company has cut its accumulated losses to less than 20% of the capital over the first half (H1) of 2020.  The company's losses now stand at SAR 48.98 million, representing 19.59% of the …

Financial Results

27 August 2020 09:17 AM Salama Cooperative Insurance swings to SAR 29m quarterly profit

Riyadh – Mubasher: Salama Cooperative Insurance Company turned to a net profit of SAR 29.49 million in the second quarter (Q2) of 2020, versus a net loss of SAR 35.38 million in the year-ago quarter. The move to profit was supported by a decline …

Financial Results

26 August 2020 10:11 AM Tadawul suspends trading on Salama shares

Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) has suspended trading on the shares of Salama Cooperative Insurance Company on Wednesday, 26 August on the back of not announcing the financial results for the second quarter (Q2) of 2020. …

Trading Activities

21 June 2020 09:09 AM Salama Cooperative Insurance’s losses up 74% in Q1-20

Riyadh – Mubasher: Salama Cooperative Insurance Company has incurred SAR 25.4 million in net losses before Zakat during the first quarter (Q1) of 2020, 74.2% more than SAR 14.5 million in the same period in 2019. Net written premiums (NWP) shrank …

Financial Results

25 November 2019 10:14 AM Salama Cooperative Insurances receives SAMA’s instructions

Riyadh – Mubasher: Salama Cooperative Insurance Company announced on Monday that it has received a letter from the Saudi Arabian Monetary Authority (SAMA) regarding the decline of its financial solvency rate below the required level. The letter …

Company News

10 November 2019 00:13 PM Salama Cooperative Insurance turns to losses in Q3

Riyadh – Mubasher: Salama Cooperative Insurance Company announced swinging to losses during the third quarter of 2019. The insurance firm incurred net losses of SAR 14.31 million in the three-month period ended 30 September, against net profits of …

Financial Results

21 August 2019 05:35 PM Salama Cooperative Insurance moves to losses in 6M

Riyadh – Mubasher: Salama Cooperative Insurance Company posted its interim financial results for the second quarter of 2019. The company turned to losses with SAR 49.95 million in Q2-19, against profits of SAR16.31 million in Q2-18, according to a …

Company News

31 March 2019 04:04 PM 16 Saudi insurance firms log SAR 213m loss in 2018

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 …

Financial Results

12 May 2017 07:06 PM Tadawul, Nomu end week on negative note

Riyadh – Mubasher: The main index of the Saudi Stock Exchange (Tadawul) shed 0.6% or 41.57 points to reach 6,882.51 points in the week ended 11 May compared to 6,924.08 points last week. The market’s turnover decreased 26.7% to SAR 13.35 billion, …

Trading Activities

9 May 2017 10:20 AM Salama profit jumps 468% in Q1

Riyadh – Mubasher: Salama Cooperative Insurance reported a surge in profits before zakat by 467.5% in the first quarter of 2017. Net profits reached SAR 14.18 million in Q1-17 compared to SAR 2.5 million in the same period in 2016. The company …

Financial Results

6 March 2017 08:38 PM Salama Cooperative Insurance profits jump 886% in 2016

Riyadh - Mubasher: Salama Cooperative Insurance reported an increase in profits by 886.03% in 2016 to SAR 30.35 million from SAR 3.078 million in the year before, as shown by the company’s financial statements. The increase in profits is due to …

Financial Results

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

26 November 2016 04:46 PM Tadawul awaits important events this week

Riyadh - Mubasher: Investors in the Saudi Stock Exchange (Tadawul) are anticipating a series of important events in the upcoming week led by the general assembly meetings by GASCO and Wafa Insurance. The Saudi Indian Company for Cooperative …

General Assembly