Riyadh – Mubasher: Allied Cooperative Insurance Group (ACIG) has announced the results of its Ordinary General Assembly Meeting, which concluded with the ratification of the company’s financial reports for 2025 and the appointment of external auditors for the upcoming periods.

The meeting was held on 10 June 2026 and saw shareholders approve board remunerations and discharge directors from liability for the previous fiscal year, marking a key milestone in the company’s annual governance cycle, according to a bourse filing.

During the session, shareholders reviewed and discussed the Board of Directors' report and the company’s financial statements for 2025. Following these discussions, the assembly officially approved the auditor’s report for the same period.

A significant portion of the agenda focused on future financial oversight, resulting in the appointment of two auditing firms to handle the company’s accounts for the remainder of 2026 and the first quarter (Q1) of 2027.

PKF Al Bassam and Company was appointed with a fee of SAR 575,000 and Professional Consultants (Mazars) was selected with a fee of SAR 550,000. These firms will be responsible for examining and auditing the financial statements for Q2, Q3, and Q4 of 2026, as well as the annual statements for 2026 and Q1-27.

In matters of corporate governance and compensation, the assembly approved the payment of SAR 1 million as remuneration to the members of the Board of Directors for their services during the 2025 fiscal year.

Furthermore, the shareholders voted to discharge the board members from liability regarding their management of the company for the year ended on 31 December 2025.

The successful conclusion of this second meeting ensures that ACIG remains compliant with the regulatory frameworks of the Saudi Capital Market Authority and the Saudi Central Bank.

By securing shareholder approval for its financial reporting and auditing appointments, the company maintains its operational transparency and establishes the necessary oversight for its financial performance through Q1-27.

ACIG recently obtained an approval from the Insurance Authority (IA) for the annual re-licensing to practice health insurance.