Saudi Arabian Cooperative Insurance Co (SAICO) News

25 May 10:21 AM SAICO announces Ballow as Acting CEO

Riyadh – Mubasher: Saudi Arabian Cooperative Insurance Company (SAICO) has appointed of Khalid Ali A. Ballow as the firm’s Acting CEO to be effective as of 21 May 2026, according to a bourse filing. The appointment was confirmed by the company’s …

Management Decisions

20 March 2024 02:15 PM SAICO turns profitable in 2023; revenues surge 14% YoY

Riyadh – Mubasher: Saudi Arabian Cooperative Insurance Company (SAICO) swung to profitability during the financial year 2023, recording a net profit after Zakat attributable to shareholders of SAR 71.09 million, compared to a net loss of SAR 61.64 …

Banking and Finance

7 November 2023 04:20 PM SAICO swings to SAR 65m net profits in 9M-23; accumulated losses unveiled

Riyadh – Mubasher: Saudi Arabian Cooperative Insurance Company (SAICO) reported a net profit before Zakat of SAR 65.06 million in the first nine months (9M) of 2023, compared to a net loss of SAR 47.73 million in the same period of 2022. The …

Banking and Finance

7 August 2022 10:08 AM SAICO names new chairman, vice chairman

Riyadh – Mubasher: Saudi Arabian Cooperative Insurance Company (SAICO) has appointed Prince Ahmad bin Khalid bin Abdullah Al Saud as the new chairman of the board for the next three years. The insurer also named Abdulaziz bin Ali Abussuud as the …

Corporate Actions

SAICO was awarded and signed the contract on 30 August

31 August 2021 10:59 AM SAICO to provide Al Rajhi with insurance coverage

Riyadh – Mubasher: Saudi Arabian Cooperative Insurance Company (SAICO) will provide insurance coverage to Al Rajhi Bank for one year starting 1 September 2021. The annual premiums for this contract are expected to exceed 5% of SAICO's revenues, …

Banking and Finance

The company's net written premiums rose by 10.58%

17 August 2021 01:46 PM SAICO turns to losses in H1-21

Riyadh – Mubasher: The Saudi Arabian Cooperative Insurance Company (SAICO) has incurred net losses before zakat of SAR 30.268 million during the first six months of 2021, against net profits of SAR 27.167 million in the year-ago period of 2020. …

Financial Results

The earnings per share (EPS) settled at SAR 1.58 in 2020

17 March 2021 00:29 PM SAICO turns to profitability in 2020

Riyadh – Mubasher: The Saudi Arabian Cooperative Insurance Company (SAICO) has achieved net profits before Zakat of SAR 57.584 million in 2020, against net losses of SAR 2.382 million in 2019. The company has turned to profitability due to a …

Financial Results

The decision will be effective on 31 December 2021.

22 February 2021 11:15 AM CEO of SAICO to retire this year

Riyadh – Mubasher: The Saudi Arabian Cooperative Insurance Company (SAICO) announced on Monday the retirement of its CEO, Hassan Abdullah Al-Somali. The decision will be effective on 31 December 2021, according to a stock exchange statement. The …

Board of Directors

SAICO gained SAR 12.48 million in net profits before Zakat in Q3-20.

5 November 2020 09:30 AM SAICO reports 629% jump in quarterly profit

Riyadh – Mubasher: The Saudi Arabian Cooperative Insurance Company (SAICO) gained SAR 12.48 million in net profits before Zakat during the third quarter (Q3) of the year. This represents a 629.6% annual growth from SAR 1.71 million in the year-ago …

Financial Results

Net written premiums totalled SAR 142.991 million in Q2

17 August 2020 10:02 AM SAICO reports 820% leap in quarterly profit

Riyadh – Mubasher: The net profits before Zakat of the Saudi Arabian Cooperative Insurance Company (SAICO) surged 820.6% in the second quarter (Q2) of 2020 to reach SAR 37.21 million, as shown in the company's financial statements. This jump was …

Financial Results

10 June 2020 11:21 AM SAICO swings to SAR 10m loss in Q1

Riyadh – Mubasher: The Saudi Arabian Cooperative Insurance Company (SAICO) incurred net losses before Zakat worth SAR 10.05 million in the first quarter (Q1) of 2020, against profits of SAR 3.01 million in the corresponding period of the previous …

Financial Results

The contract renewal is valid for one year

5 May 2020 10:36 AM SAICO, Al Rajhi renew insurance contract

Riyadh – Mubasher: Saudi Arabian Cooperative Insurance Company (SAICO) signed a contract on 4 May 2020 with Al Rajhi Bank. The deal involves renewing the vehicle insurance coverage sold by the bank through its leasing programme, the company said …

Companies Investments

The company’s GWP retreated to SAR 142 million

10 November 2019 00:23 PM SAICO turns profitable in Q3

Riyadh – Mubasher: Saudi Arabian Cooperative Insurance Company (SAICO) announced turning profitable during the third quarter of 2019. SAICO logged a net profit of SAR 1.71 million in Q3-19, against net losses of SAR 7.35 million in Q3-18, …

Financial Results

Net profits soared 873.9% to SAR 4 million in Q2-19

4 August 2019 00:40 PM SAICO’s profits surge 874% in Q2

Riyadh – Mubasher: Saudi Arabian Cooperative Insurance Company (SAICO) announced its interim financial results for the second quarter of 2019. Net profits soared 873.9% to SAR 4 million in Q2-19, compared to SAR 415,000 in Q2-18, according to the …

Company News

The building is set for completion within two years from starting construction works

28 April 2019 06:16 PM SAICO plans partnership to construct SAR 101.33m building

Riyadh – Mubasher: Saudi Arabian Cooperative Insurance Co. (SAICO) announced plans to enter into a deal to establish a multi-floor building on plot of land situated on the intersection of Makkah Road and Salah Al Dein Road. The total cost of the …

Companies Investments

Net profits amounted to SAR 14.6 million during Q4-17

18 February 2018 09:54 AM SAICO’s profit falls 17% in Q4

Riyadh – Mubasher: The Saudi Arabian Cooperative Insurance Company (SAICO) on Sunday posted a 16.62% year-on-year drop in net profits for the fourth quarter of 2017. Net profits amounted to SAR 14.6 million during Q4-17, compared to SAR 17.53 …

Financial Results

Net profits tumbled to SAR 16.39 million in Q3-17, from SAR 17.37 million in Q3-16, according to a bourse filing

5 November 2017 06:11 PM SAICO’s profits drop 5% near to SAR 16m in Q3

Riyadh – Mubasher: The Saudi Arabian Cooperative Insurance Company’s (SAICO) on Sunday stated that its net profits decreased by 5.65% year-on-year in the third quarter of 2017. Net profits reached SAR 16.39 million in Q3-17, compared to SAR 17.37 …

Financial Results

(Photo Credit: Saudi Arabian Monetary Authority’s website)

30 April 2017 06:02 PM SAMA extends temporary approval for SAICO products

Riyadh - Mubasher: The Saudi Arabian Monetary Authority (SAMA) on Sunday extended the temporary approval for the Saudi Arabian Cooperative Insurance Company’s (SAICO) aviation insurance policies. The renewal period will be two months, starting …

Markets Regulations

3 December 2015 03:53 PM SAMA approves SAICO insurance products

Riyadh-Mubasher: Saudi Arabian Cooperative Insurance Co. (SAICO) said it received an approval letter from the Saudi Arabian Monetary Agency (SAMA) on 3 December to temporarily sell 25 insurance products for six months as of 2 December, according …

Corporate Actions

27 July 2015 09:19 AM SAICO posts high earnings for Q2, H1

Riyadh-Mubasher: Saudi Arabian Cooperative Insurance Co. (SAICO) reported a 79% jump in the second-quarter net earnings to SAR 8.2 million, compared with SAR 4.6 million in the year-earlier period. Net income for the six-month period ended on 30 …

Corporate Actions