Riyadh – Mubasher: The shareholders of Gulf General Cooperative Insurance Company (GGCI) approved business contracts with Al Dabbagh Group during an ordinary general meeting (OGM) held on 17 August 2026.

The approved transactions involve one-year insurance premiums with a group owned by board member Jamal Abdullah Al Dabbagh. The company confirmed that these contracts carry no preferential terms.

In 2025, the total value of written insurance premiums related to these dealings amounted to SAR 7.04 million. The resolution passed with an approval rate of 86.25%, while 10.74% of votes were against and 3.01% abstained.

The meeting was held virtually at 19:30 following a lack of quorum for the first session scheduled for 18:30. Attendance for the second session reached 15.33% of the share capital.

The assembly was attended by Chairman Mazen Hani Al Tamimi and other board members, including the heads of the executive, investment, audit, and risk management committees.

During the first half (H1) of 2026, the net losses of GGCI narrowed to SAR 29.49 million from SAR 52.86 million in H1-25.