Gulf Insurance Group (8250)

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News

2 March 03:40 PM GIG generates SAR 98m profits in 2024

Riyadh – Mubasher: Gulf Insurance Group (GIG) recorded 23.60% lower net profits after Zakat attributable to the owners at SAR 98.19 million in 2024, compared to SAR 128.52 million. The earnings per share (EPS) maintained its value unchanged at SAR …

Financial Results

29 September 2024 10:01 AM GIG names new Chairman, Vice Chairman

Riyadh – Mubasher: Gulf Insurance Group (GIG) has appointed Yousef Saleh Abalkhail as the Chairman of the board, according to a bourse disclosure. The company’s board also named Bijan Khasaroshahi as the Vice Chairman for the next four years. The …

Board of Directors

26 June 2024 09:19 AM Saudi GIG unveils payment date for 2023 dividends

Riyadh – Mubasher: Gulf Insurance Group (GIG) announced the distribution of SAR 78.75 million, or SAR 1.50 per share, in cash dividends for 2023 on 30 June 2024. The shareholders eligible are those who own shares at the end of 29 May, according to …

Cash Dividends

7 May 2024 11:57 AM S&P assigns ‘A-’ rating to Saudi GIG; outlook stable

Riyadh – Mubasher: S&P Global Ratings has assigned Gulf Insurance Group (GIG) a long-term financial strength rating of ‘A-’ with a stable outlook. The rating agency based its assessment on several strengths, including the company’s capital …

Banking and Finance

5 May 2024 11:58 AM Saudi GIG swings to loss in Q1-24

Riyadh – Mubasher: Gulf Insurance Group (GIG) shifted to losses during the first quarter (Q1) of 2024, recording a net loss after Zakat attributable to shareholders of SAR 20.21 million, compared to a net profit of SAR 56.69 million. Insurance …

Financial Results

14 April 2024 03:22 PM Saudi GIG’s board proposes SAR 1.5/shr dividend for 2023

Riyadh – Mubasher: The board of Gulf Insurance Group (GIG) recommended, in its 4 April 2024 meeting, the distribution of SAR 1.50 per share as a cash dividend for 2023. Upon the shareholders’ approval, the company would pay out a total of SAR …

Cash Dividends

7 November 2023 08:29 PM Saudi GIG’s net profits fall 21.5% in 9M-23; group turns profitable in Q3

Riyadh – Mubasher: Gulf Insurance Group (GIG) reported a decline of 21.55% in its net profit before Zakat to SAR 129.36 million during the first nine months (9M) of 2023, compared with SAR 164.91 million in 9M-22. The company’s earnings per share …

Banking and Finance

19 June 2023 10:36 AM Gulf Insurance unveils 61% lower profits in Q1-23, dividends for 2022

Riyadh – Mubasher: Gulf Insurance Group (GIG) posted net profits before Zakat worth SAR 68.93 million in the first quarter (Q1) of 2023, an annual plunge of 61.21% from SAR 177.72 million. The gross written premiums (GWP) amounted to SAR 544.38 …

Financial Results

26 June 2022 02:55 PM AXA Cooperative, Alujain change company name

Riyadh – Mubasher: AXA Cooperative Insurance Company has obtained its new commercial registration and changed its name to Gulf Insurance Group – GIG. The new entity name followed the completion of all required documents as well as the …

General Assembly

2 June 2022 05:56 PM AXA Cooperative pays 2021 dividends on Thursday

Riyadh – Mubasher: AXA Cooperative Insurance Company has distributed a cash dividend of SAR 50 million, representing 10% of the capital, for 2021 on 2 June. The Saudi listed firm paid a dividend of SAR 1 per share for 50 million eligible shares, …

Board of Directors

17 May 2022 07:05 PM AXA Cooperative's shareholders approve SAR 1/shr dividend for 2021

Riyadh – Mubasher: The shareholders of AXA Cooperative Insurance Company have granted their green light for a cash dividend distribution of SAR 1 per share for 2021. The insurer will pay out a total amount of SAR 50 million, representing 10% of …

Cash Dividends

11 May 2022 05:41 PM AXA Cooperative’s profits shrink 42% in Q1-22 initial results

Riyadh – Mubasher: AXA Cooperative Insurance Company has registered net profits before Zakat worth SAR 25.39 million during the first quarter (Q1) of 2022, an annual drop of 41.98% from SAR 43.77 million. Earnings per share (EPS) stood at SAR 0.41 …

Financial Results

17 March 2022 04:54 PM AXA Cooperative’s board proposes SAR 1/shr dividend for 2021

Riyadh - Mubasher: The board of AXA Cooperative Insurance Company has recommended a cash dividend of SAR 1 per share for 2021. The company would pay a total of SAR 50 million, representing 10% of the capital, for 50 million eligible shares, …

Cash Dividends

15 February 2022 09:49 PM AXA Cooperative achieves SAR 167m net profits in 2021

Riyadh – Mubasher: AXA Cooperative Insurance Company reported net profits before Zakat of SAR 166.72 million in 2021, down 0.06% from SAR 166.83 million in 2020. The earnings per share (EPS) stood at SAR 2.77 in 2021, unchanged from 2020’s value, …

Financial Results

16 January 2022 09:43 AM AXA Cooperative Insurance appoints new CEO

Riyadh – Mubasher: AXA Cooperative Insurance Company has appointed Khalid Abdulaziz Alshuwaier as the company’s CEO. This decision was taken after the company had received the Saudi Central Bank's (SAMA) no-objection to the appointment, according …

Management Decisions

7 December 2021 05:44 PM AXA appoints Chairman, Vice Chairman

Riyadh – Mubasher: AXA Cooperative Insurance Company has appointed Yousef Saleh Abalkhail as the new Chairman of the board for the coming three years, according to a bourse disclosure on Tuesday. The company also named Bijan Khosrow as the Vice …

Corporate Actions

7 November 2021 01:56 PM AXA Cooperative's interim financials record 1% lower profits in 9M

Riyadh – Mubasher: The interim financials of AXA Cooperative Insurance Company showed a 1.41% year-on-year (YoY) decrease in net profits before zakat to SAR 124.179 million in the first nine months of 2021 from SAR 125.955 million. Lower net …

Financial Results

7 September 2021 11:52 AM Gulf Insurance completes acquisition of AXA in Gulf

Mubasher: Gulf Insurance Group (GIG) has completed the acquisition of AXA’s operations in the Gulf region in exchange for $474.75 million after obtaining the necessary regulatory approvals. The transaction included AXA Gulf and AXA Cooperative …

Companies Investments

8 August 2021 04:01 PM AXA Cooperative’s profits up 12% in H1-21

Riyadh – Mubasher: AXA Cooperative Insurance Company recorded net profits before Zakat worth SAR 78.73 million in the first half (H1) of 2021, higher by 12% than SAR 70.3 million. Net written premiums decreased by 1.2% to SAR 730.88 million in …

Financial Results

18 March 2021 11:10 AM AXA Cooperative Insurance's net profits climb 54% in 2020

Riyadh – Mubasher: AXA Cooperative Insurance Company reported net profits before Zakat of SAR 166.836 million in 2020, up 53.8% from SAR 108.474 million in 2019. Higher net profits are driven by an improvement in the overall loss ratio to 70% …

Financial Results

2 December 2020 03:42 PM Legal Advisors, Baker McKenzie advise on gig’s acquisition of AXA's Mideast business for $474.8m

Riyadh – Mubasher: Legal Advisors, Abdulaziz Alajlan & Partners alongside Baker McKenzie have advised Gulf Insurance Group (gig) on the acquisition of AXA’s insurance operations in the Gulf region for a value of $474.75 million. Under the terms of …

Companies Investments

30 November 2020 01:45 PM Kuwait's Gulf Insurance to acquire AXA's operations in Gulf for $475m

Mubasher: Gulf Insurance Group (GIG) will acquire French insurer AXA Group's operations in the Gulf region and the share of Yusuf Bin Ahmed Kanoo (YBA Kanoo) in AXA Gulf for $474.75 million. Under the agreement, Kuwait's Gulf Insurance will …

Companies Investments

30 November 2020 10:35 AM AXA signs agreement to sell insurance businesses in Gulf region

Mubasher: AXA, one of the largest global insurers, has inked an agreement with Gulf Insurance Group (gig) to sell its insurance businesses in the Gulf region, including AXA Gulf, AXA Cooperative Insurance Company, and AXA Green Crescent Insurance …

Companies Investments

5 November 2020 09:15 AM AXA Cooperative Insurance Q3 profit leaps 147%

Riyadh – Mubasher: AXA Cooperative Insurance Company’s net earnings before Zakat registered SAR 55.7 million in the third quarter (Q3) of 2020, 146.8% more than SAR 22.5 million in the corresponding quarter in 2019. The growth in quarterly profits …

Financial Results

19 August 2020 09:48 AM AXA Cooperative Insurance records 14% higher quarterly profits

Riyadh – Mubasher: The net earnings of AXA Cooperative Insurance Company came in at SAR 34.99 million during the second quarter (Q2) ended 30 June 2020, up by 14.8% on a year-on-year (YoY) basis. The increase in Q2-20 profit is supported by higher …

Financial Results