Arabian Shield Cooperative Insurance Co (8070)

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News

9 May 2024 02:52 PM Arabian Shield posts higher profits in Q1-24; revenues hike 53%

Riyadh – Mubasher: Arabian Shield Cooperative Insurance Company recorded net profits after Zakat attributable to the owners valued at SAR 15.77 million in the first quarter (Q1) of 2024, an annual hike of 752.35% from SAR 1.85 million. Insurance …

Financial Results

30 April 2024 09:50 AM Fitch assigns Arabian Shield’s rating at 'A-'; outlook stable

Riyadh – Mubasher: Fitch Ratings granted Arabian Shield Cooperative Insurance Company the financial strength insurance tating of ‘A-' and the national financial strength insurance rating of ‘AA (SAU) '. The Saudi insurance firm’s outlooks was …

Ratings

17 March 2024 11:49 AM Arabian Shield’s net profit balloons 15,943% YoY in 2023

Riyadh – Mubasher: The net profit after Zakat attributable to shareholders of Arabian Shield Cooperative Insurance Company skyrocketed by more than 15,943% year-on-year (YoY) to SAR 65.13 million in 2023 from SAR 406,000. Insurance revenues rose …

Banking and Finance

30 October 2023 03:11 PM Tadawul delists Alinma Tokio Marine after merger with Arabian Shield

Riyadh – Mubasher: The Saudi Exchange (Tadawul) has delisted Alinma Tokio Marine Company, following the completion of its merger with Arabian Shield Cooperative Insurance Company. The delisting was effective as of the end of trading on 25 October …

Management Decisions

19 September 2023 11:01 AM CMA greenlights Arabian Shield’s capital raise to merge with Alinma Tokio Marine

Riyadh – Mubasher: The Capital Market Authority (CMA) approved the request of Arabian Shield Cooperative Insurance Company to increase its capital to SAR 798.15 million from SAR 638.52 million. The firm will issue 15.96 million ordinary shares to …

Corporate Actions

7 August 2023 03:48 PM Arabian Shield turns profitable in H1-23

Riyadh – Mubasher: Arabian Shield Cooperative Insurance Company turned to net profits before Zakat valued at SAR 36.64 million in the first half (H1) of 2023, against net losses of SAR 3.22 million in H1-22. Earnings per share (EPS) hit SAR 0.42 …

Financial Results

25 June 2023 09:32 AM Arabian Shield witnesses 68% lower net profits in Q1-23

Riyadh – Mubasher: Arabian Shield Cooperative Insurance Company registered net profits before Zakat amounting to SAR 6.82 million during the first quarter (Q1) of 2023. The generated net profits retreated by 68.29% from SAR 21.52 million as of 31 …

Financial Results

26 March 2023 03:09 PM Arabian Shield’s net profits jump 27% in 2022

Riyadh – Mubasher: Arabian Shield Cooperative Insurance Company posted SAR 46.55 million in net profit before Zakat in 2022, a 27.16% year-on-year (YoY) growth from SAR 36.60 million. The earnings per share (EPS) stood at SAR 0.44 last year, down …

Financial Results

24 January 2023 10:49 AM Arabian Shield inks insurance deal with SNB

Riyadh – Mubasher: Arabian Shield Insurance Company penned an insurance coverage agreement with the Saudi National Bank (SNB) on 23 January 2023, according to a bourse disclosure. The Tadawul-listed firm expected the contract’s revenues to cross …

Banking and Finance

16 August 2022 05:39 PM Arabian Shield logs SAR 16.5m profits in H1-22 initial results

Riyadh – Mubasher: Arabian Shield Cooperative Insurance Company achieved net profits before Zakat worth SAR 16.43 million in the first half (H1) of 2022, down 29.53% from SAR 23.31 million in H1-21. The earnings per share (EPS) settled at SAR 0.11 …

Financial Results

17 May 2022 05:36 PM Arabian Shield's profits shrink 53% in Q1-22 interim financials

Riyadh – Mubasher: Arabian Shield Cooperative Insurance Company has posted a 53.06% year-on-year (YoY) plunge in net profit before Zakat to SAR 7.19 million during the first quarter (Q1) of 2022, versus SAR 15.33 million. The earnings per share …

Financial Results

21 February 2022 02:49 PM Arabian Shield's net profits down 16% in 2021

Riyadh - Mubasher: Arabian Shield Cooperative Insurance Company logged net profits before Zakat worth SAR 36.60 million in 2021, a decrease of 16.04% from SAR 34.60 million a year earlier.  Earnings per share (EPS) declined to SAR 0.65 last year, …

Financial Results

27 January 2022 00:15 PM Arabian Shield, SNB pen insurance coverage contract

Riyadh – Mubasher: The Arabian Shield Insurance Company has signed an insurance coverage contract with the Saudi National Bank (SNB) at an initial value of the annual gross written premium (GWP) of SAR 215.152 million. The Saudi listed company …

Companies Investments

13 December 2021 04:52 PM Arabian Shield raises capital by SAR 238.5m on merger with AlAhli Takaful

Riyadh – Mubasher: The shareholders of Arabian Shield Insurance Company decided to increase the company’s capital by SAR 238.52 million in line with the approval for the merge with AlAhli Takaful Company. Arabian Shield’s capital will stand at SAR …

General Assembly

2 November 2021 00:39 PM Arabian Shield logs SAR 35m net profits in 9M

Riyadh – Mubasher: Arabian Shield Cooperative Insurance Company recorded net profits before Zakat worth SAR 34.86 million in the first nine months of 2021, higher by nearly 4.5% than SAR 33.36 million in the same period last year. Earnings per …

Financial Results

9 August 2021 05:24 PM Saudi GAC approves merger of Arabian Shield, AlAhli Takaful

Riyadh – Mubasher: Saudi Arabia’s General Authority of Competition (GAC) gave the green light for the merger between Arabian Shield Cooperative Insurance and AlAhli Takaful Company. The approval was granted to both companies on 8 August 2021, …

Mergers and Acquisitions

8 August 2021 05:05 PM Arabian Shield achieves higher profits at SAR 23m in H1-21

Riyadh – Mubasher: Arabian Shield Cooperative Insurance Company registered net profits before Zakat worth SAR 23.31 million in the first half (H1) of 2021, higher by 38.8% than SAR 16.79 million in H1-21. Earnings per share stood at SAR 0.41 in …

Financial Results

12 July 2021 05:54 PM AlAhli Takaful, Arabian Shield ink binding MoU for merger

Riyadh – Mubasher: AlAhli Takaful Company and Arabian Shield Cooperative Insurance have signed a binding memorandum of understanding (MoU) on 12 July for the potential merger between the two entities, according to two separate bourse disclosures …

Companies Investments

12 July 2021 03:46 PM Trading on AlAhli Takaful, Arabian Shield suspended – Tadawul

Riyadh – Mubasher: The Saudi Exchange (Tadawul) announced suspending trading on the stocks of both AlAhli Takaful Company and Arabian Shield Cooperative Insurance. The trading suspension has taken place for one session on Monday, 12 July, upon the …

Corporate Actions

10 June 2021 10:35 AM Arabian Shield’s EGM approves 33% capital hike; fluctuation limit announced

Riyadh – Mubasher: The shareholders of Arabian Shield Cooperative Insurance Company approved a capital increase of 33.33% or SAR 100 million by granting one share for every three existing shares, according to a bourse filing on Thursday. During …

Corporate Actions

12 April 2021 05:40 PM Arabian Shield plans no dividends for 2020

Riyadh – Mubasher: Arabian Shield Cooperative Insurance Company’s board recommended not paying out cash dividends for 2020, according to a disclosure to Tadawul on Monday. The decision aims to boost the company’s financial position. Arabian …

Cash Dividends

11 April 2021 05:41 PM AlAhli Takaful, Arabian Shield enter into MoU for potential merger

Riyadh – Mubasher: AlAhli Takaful Company and Arabian Shield Cooperative Insurance both signed a memorandum of understanding (MoU) for a potential merger between the two entities, according to two separate disclosures to Tadawul on Sunday. The …

Companies Investments

11 April 2021 11:37 AM SAMA approves Arabian Shield’s SAR 100m capital raise

Riyadh – Mubasher: The Saudi Central Bank (SAMA) approved Arabian Shield Cooperative Insurance Company's request to increase its capital to SAR 400 million from SAR 300 million through issuing bonus shares, according to a disclosure to Tadawul on …

Central Banks

13 January 2021 11:21 AM Arabian Shield proposes 33% capital rise

Riyadh – Mubasher: The board of Arabian Shield Cooperative Insurance Company has recommended raising the company's capital by 33.33% to SAR 400 million from SAR 300 million by granting bonus shares. One bonus share will be granted for every three …

Management Decisions

4 January 2021 09:36 AM Arabian Shield names new CEO

Riyadh – Mubasher: Arabian Shield Cooperative Insurance Company received an email from the Saudi Central Bank (SAMA) approving the appointment of Bassel Al-Abdulkarim as the company’s CEO as of 3 January 2021. Last October, the insurer’ board …

Board of Directors