Arabia Insurance Cooperative Co (8160)

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News

22 June 02:32 PM Arabia Insurance, United Cooperative Assurance ink MoU to explore potential merger

Riyadh - Mubasher: Arabia Insurance Cooperative Company and United Cooperative Assurance Company agreed to evaluate a potential merger between the two firms. Under the non-binding memorandum of understanding (MoU), the two companies will merge …

Companies Investments

12 May 2024 01:04 PM Arabia Insurance Cooperative’s profits rise 7% in Q1-24

Riyadh – Mubasher: The net profits after Zakat attributable to the owners of Arabia Insurance Cooperative Company increased by 7.01% to SAR 7.83 million in the first quarter (Q1) of 2024. The quarterly net profits were compared with SAR 7.32 …

Financial Results

21 March 2024 11:03 AM Arabia Insurance Cooperative posts 875% surge in 2023 net profit

Riyadh – Mubasher: Arabia Insurance Cooperative Company logged an 875.19% year-on-year (YoY) surge in net profit after Zakat attributable to shareholders to SAR 60.46 million in 2023 from SAR 6.20 million. Insurance revenues jumped 49.64% YoY to …

Banking and Finance

3 December 2023 02:24 PM Arabia Insurance appoints new Chairman, Vice Chairman

Riyadh – Mubasher: Arabia Insurance Cooperative Company has named Abdulaziz Saleh Al Omair as the Chairman of the board for the next three years. Muneer Butros Mouasher was announced as the Vice Chairman, according to a bourse disclosure. The two …

Board of Directors

23 November 2023 05:59 PM Arabia Insurance announces Chairman resignation

Riyadh – Mubasher: The board of Arabia Insurance Cooperative Company recently accepted the resignation of Abdulaziz Abdulhadi Al Qahtani from his position as a non-executive Chairman. Al Qahtani stepped down from his position due to work …

Management Decisions

1 November 2023 08:14 PM Arabia Insurance shifts to SAR64m net profits in 9M-23, unveils accumulated losses

Riyadh – Mubasher: Arabia Insurance Cooperative Company turned to net profits before Zakat of SAR 64.35 million in the first nine months (9M) of 2023, compared to a net loss of SAR 6.66 million in the same period last year. The company achieved …

Financial Results

8 August 2023 02:53 PM Arabia Insurance's profits surge 1,175% in H1-23; accumulated losses unveiled

Riyadh – Mubasher: Arabia Insurance Cooperative Company posted net profits before Zakat worth SAR 36.75 million during the first half (H1) of 2023, an annual leap of 1,175% from SAR 2.88 million. Earnings per share (EPS) amounted to SAR 0.56 in …

Financial Results

20 June 2023 11:39 AM Arabia Insurance shifts to profits in Q1-23; accumulated losses exceed SAR 65.5m

Riyadh – Mubasher: Arabia Insurance Cooperative Company turned profitable at SAR 11.56 million in the first quarter (Q1) of 2023, against net losses before Zakat valued at SAR 9.28 million in Q1-22. Gross written premiums (GWP) hiked by 42.93% …

Financial Results

12 June 2023 09:02 AM Arabia Insurance announces 2 key appointments

Riyadh – Mubasher: Arabia Insurance Cooperative Company appointed Abdulaziz Abdulhadi Al Gahtani as the new Chairman of the board for the next three years. The insurance firm also named Abdulaziz Saleh Al Omair as the Vice Chairman, according to a …

Corporate Actions

1 March 2023 03:46 PM Arabia Insurance’s profits hike 2,310% in 2022; accumulated losses unveiled

Riyadh – Mubasher: Arabia Insurance Cooperative Company generated net profits before Zakat worth SAR 12.77 million in 2022, higher by 2,310% year-on-year (YoY) than SAR 530,000. Earnings per share (EPS) stood at SAR 0.31 during January-December …

Financial Results

23 November 2022 02:48 PM Arabia Insurance’s EGM nods to 100% capital hike via rights issue

Riyadh – Mubasher: The extraordinary general meeting (EGM) of Arabia Insurance Cooperative Company greenlighted the board’s recommendation to increase the capital by 100% to SAR 530 million from SAR 265 million. The capital hike will be carried …

Management Decisions

23 May 2022 05:35 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

10 February 2022 05:25 PM Arabia Insurance to provide Al Hokair Group with insurance services

Riyadh – Mubasher: Arabia Insurance Cooperative Company has been awarded a contract from Al Hokair Group of Companies on 9 February to provide general insurance services. The contract value is estimated to be SAR 25 million, while the two parties …

Companies Investments

5 September 2021 05:13 PM CMA approves Arabia Insurance’s capital raise

Riyadh – Mubasher: The Capital Market Authority (CMA) gave the green light for increasing the capital of Arabia Insurance Cooperative Company through a rights issue. Arabia Insurance aims to raise its capital by SAR 265 million, according to a …

General Assembly

15 August 2021 03:50 PM Arabia Insurance logs SAR 4m profits in H1-21, unveils accumulated losses

Riyadh – Mubasher: Arabia Insurance Cooperative Company recorded net profits before Zakat worth SAR 3.99 million in the first six months of 2021, lower by 17% than SAR 4.83 million in the same half last year. Earnings per share declined to SAR …

Financial Results

21 March 2021 00:40 PM Arabia Insurance turns to profitability in 2020

Riyadh – Mubasher: Arabia Insurance Cooperative Company (AICC) has achieved net profits before Zakat of SAR 12.257 million in 2020, against net losses of SAR 37.762 million in 2019. The company has turned to profitability in 2020, driven by lower …

Financial Results

1 March 2021 11:09 AM Arabia Insurance to provide general, motor insurance services to Aljomaih Group

Riyadh – Mubasher: Arabia Insurance Cooperative Company (AICC) on Monday announced receiving an order from Aljomaih Group of Companies to provide general and motor insurance services for one year starting from 1 March 2021. The insurer said the …

Companies Investments

4 November 2020 10:43 AM Arabia Insurance turns profitable in Q3

Riyadh – Mubasher: Arabia Insurance Cooperative Company (AICC) turned profitable in the third quarter (Q3) of 2020, gaining SAR 5.3 million in net earnings, compared to SAR 16.2 million worth of losses in the same quarter in 2019. The move to …

Financial Results

19 August 2020 10:02 AM Arabia Insurance swings to profits in Q2-20

Riyadh – Mubasher: Arabia Insurance Cooperative Company (AICC) returned to profitability in the second quarter (Q2) of 2020, generating SAR 4.6 million in net profits, versus SAR 12.5 million in net losses in the year-ago period. The move to …

Financial Results

11 June 2020 01:10 PM Arabia Insurance turns to profitability in Q1-20

Riyadh – Mubasher: Arabia Insurance Cooperative Company (AICC) has achieved net profits before Zakat of SAR 190,000 during the first quarter (Q1) of 2019, against losses of SAR 5.2 million in the corresponding quarter in the year before. On an …

Financial Results

6 January 2020 00:50 PM SAMA renews AICC insurance license

Riyadh – Mubasher: Arabia Insurance Cooperative Company (AICC) announced on Monday that it has received the Saudi Arabian Monetary Authority’s (SAMA) approval to renew its license. The license has been renewed in the fields of insurance, health …

Company News

23 December 2019 00:20 PM Arabia Insurance Cooperative appoints new CEO

Riyadh – Mubasher: Arabia Insurance Cooperative Company (AICC) announced that the board of directors has approved the resignation of CEO Ammar Al Halawani. The board also approved the appointment of Ziad bin Mohammed Al Rabeesh as the company’s …

Board of Directors

24 April 2019 01:32 PM SAMA nods to Arabia Insurance’s capital raise

Riyadh – Mubasher: Arabia Insurance Cooperative Co (AICC) on Wednesday announced receiving a no-objection letter from the Saudi Arabian Monetary Agency (SAMA) to increase its capital by issuing priority rights shares. SAMA approved the Saudi …

Management Decisions

15 February 2017 10:27 AM SAMA renews Arabia Insurance's professional license for 3 yrs

Riyadh – Mubasher: Arabia Insurance Cooperative Co. has obtained the renewal of the professional license from Saudi Arabian Monetary Agency (SAMA) for three years. The renewal will be valid from 12/06/1438 Hijri till 11/06/1441 Hijri, according to …

Management Decisions

29 August 2016 04:16 PM United Assurance adopts IFRS since establishment

Riyadh – Mubasher: United Cooperative Assurance (UCA) on Monday said that its financial statements are based on the International Financial Reporting Standards (IFRS) since establishment. There is no financial impact for applying the IFRS on the …

Financial Results