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28 May 01:45 AM

Sector News

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9 April 2025 02:35 PM Al Etihad Cooperative to pay SAR 30m dividends for 2024
Riyadh – Mubasher: Al Etihad Cooperative Insurance Company announced the board’s recommendation to disburse cash dividends of SAR 30 million for 2024, according to a bourse disclosure. The insurance firm will disburse a dividend of SAR 0.60 per …
Banking and Finance
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7 April 2025 09:32 AM Tawuniya’s board recommends SAR 225m dividends for 2024
Riyadh – Mubasher: The Company for Cooperative Insurance (Tawuniya) announced the board’s recommendation to pay out cash dividends valued at SAR 225 million for 2024. The insurance firm will disburse a dividend of SAR 1.50 per share for 150 …
Board of Directors
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16 March 2025 01:05 PM Saudi Re’s profits leap 281.5% in 2024; capital hike proposed
Riyadh – Mubasher: Saudi Reinsurance Company (Saudi Re) recorded 281.59% year-on-year (YoY) higher net profits attributable to the shareholders at SAR 474.81 million in 2024, versus SAR 124.42 million. Insurance revenues surged by 80.16% to SAR …
Management Decisions
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11 March 2025 02:53 PM Salama Cooperative reports over 41% decline in 2024 net profit; accumulated losses revealed
Riyadh – Mubasher: The net profit after Zakat attributable to the owners of Salama Cooperative Insurance Company amounted to SAR 30.12 million in 2024, marking a 41.28% decrease from SAR 51.30 million in 2023. The insurance revenues fell by 15.43% …
Financial Results
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11 March 2025 01:58 PM Al Etihad Cooperative logs over SAR 49m net profit in 2024
Riyadh – Mubasher: Al Etihad Cooperative Insurance Company recorded SAR 49.13 million worth of net profit after Zakat attributable to the owners in 2024, a 47.67% decline from SAR 93.89 million in 2023. The insurance revenues increased by 23.91% …
Financial Results
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11 March 2025 01:04 PM Walaa Cooperative’s net profits shrink 56.5% in 2024
Riyadh – Mubasher: Walaa Cooperative Insurance Company achieved 56.55% year-on-year (YoY) lower net profits attributable to the shareholders at SAR 64.30 million in 2024, versus SAR 147.97 million. Insurance revenues climbed by 15.82% to SAR 3.34 …
Financial Results
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3 March 2025 04:37 PM Al Rajhi Takaful generates SAR 332m net profits in 2024
Riyadh – Mubasher: The net profit after Zakat attributable to the shareholders of Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) rose by 1.30% year-on-year (YoY) to SAR 332.34 million in 2024, compared with SAR 328.06 million. The …
Financial Results
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2 March 2025 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
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2 March 2025 10:54 AM Tawuniya’s profits leap to SAR 1bn in 2024
Riyadh – Mubasher: The Company for Cooperative Insurance (Tawuniya) posted 65.80% year-on-year (YoY) higher net profits after Zakat attributable to the shareholders at SAR 1.02 billion in 2024, versus SAR 616.42 million. Earnings per share (EPS) …
Financial Results
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25 February 2025 06:14 PM CMA approves Gulf Union Al Ahlia’s capital hike for merger with Gulf General
Riyadh – Mubasher: The Capital Market Authority (CMA) approved the capital hike of Gulf Union Al Ahlia Cooperative Insurance Company from SAR 458.94 million to SAR 687.18 million, according to a bourse disclosure. The company will issue 22.82 …
Corporate Actions
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16 February 2025 05:43 PM Saudi 1st EV brand Ceer pens SAR 5.5bn deals at PIF Public Sector Forum; listed firms included
Riyadh – Mubasher: Ceer, Saudi Arabia’s first electric vehicle (EV) brand and Original Equipment Manufacturer (OEM), announced 11 new partnerships worth SAR 5.50 billion, equivalent to approximately $1.50 billion, at the 3rd PIF Public Sector …
Event
Tawuniya and MoneyHash at LEAP 2025
11 February 2025 05:28 PM Tawuniya selects Egyptian startup MoneyHash for strategic partnership at LEAP 2025
Riyadh – Mubasher: The Company for Cooperative Insurance (Tawuniya) has entered into a strategic partnership with Egyptian fintech MoneyHash at the LEAP 2025 in the capital of Saudi Arabia. The collaboration aims to optimise Tawuniya’s payment …
Global Economy
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30 January 2025 07:04 AM Bupa Arabia logs SAR 1.1bn net profits in 2024
Riyadh – Mubasher: The net profits after Zakat attributable to the shareholders of Bupa Arabia for Cooperative Insurance Company hit SAR 1.16 billion in 2024, an annual rise of 24.02% from SAR 940.16 million. Insurance revenues hit SAR 18.10 …
Financial Results
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13 January 2025 05:11 PM PIF acquires 23% shareholding in MENA-focused Saudi Re
Riyadh – Mubasher: The Public Investment Fund (PIF) has acquired a 23.08% stake in Saudi Reinsurance Company (Saudi Re) by way of a capital increase and subscription to new shares, according to a press release. PIF’s capital investment aims to …
Mergers and Acquisitions
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30 December 2024 10:06 PM MedGulf enters into health insurance contract with SEC
Riyadh – Mubasher: The Mediterranean and Gulf Cooperative Insurance and Reinsurance Company (MedGulf) has signed a contract with Saudi Electricity Company (SEC) to provide health insurance services for SEC employees and their dependents. The …
Companies Investments
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30 December 2024 11:48 AM Saudi Re, Walaa Cooperative collaborate to back PIF’s development companies
Riyadh – Mubasher: Saudi Reinsurance Company (Saudi Re) penned a reinsurance contract for surety insurance bonds coinsurance programme with Walaa Cooperative Insurance Company. The two entities inked the agreement on 29 December 2024, according to …
Banking and Finance
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26 November 2024 00:04 PM CMA greenlights Saudi Re’s capital hike
Riyadh – Mubasher: The Capital Market Authority (CMA) approved the request of Saudi Reinsurance Company (Saudi Re) to increase its capital through the issuance of shares with the suspension of preemptive rights. Saudi Re will raise its capital by …
Management Decisions
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5 November 2024 04:40 PM MedGulf registers SAR 99m profits to owners in 9M-24
Riyadh – Mubasher: The Mediterranean and Gulf Insurance and Reinsurance Company (MedGulf) posted net profits after Zakat attributable to the shareholders worth SAR 98.99 million in the first nine months (9M) of 2024. The recorded net profits were …
Banking and Finance
Ahmed Ali Al Jabr, CEO of Saudi Re
7 October 2024 07:18 PM Al Jabr becomes Saudi Re new CEO upon Insurance Authority’s non-objection
Riyadh – Mubasher: Saudi Reinsurance Company (Saudi Re) has appointed Ahmed Ali Al Jabr as its CEO after it received the Insurance Authority’s (IA) non-objection on 30 September 2024. Al Jabr’s appointment became effective on 1 October this year, …
Corporate Actions
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6 October 2024 05:15 PM Al Etihad Cooperative enters into SAR 391m deal with Saudi gov’t
Riyadh – Mubasher: Al Etihad Cooperative Insurance Company has signed a contract with the Saudi Ministry of Human Resources and Social Development at a total value of SAR 391.24 million, according to a bourse filing. Al Etihad Cooperative will …
Companies Investments
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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 …
Management Decisions
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24 September 2024 09:34 AM SAIC, Chubb Arabia appoint new CEO
Riyadh – Mubasher: Saudi Advanced Industries Company (SAIC) named Khalid bin Saeed Abu Khadra as the new CEO following Abdullah bin Sulaiman Al Juraish’s resignation from his position as the Acting CEO. The board members approved the appointment …
Management Decisions
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15 September 2024 02:56 PM Chubb Arabia’s CEO resigns
Riyadh – Mubasher: The board of Chubb Arabia Cooperative Insurance Company accepted the resignation of Talal Omar Bahafi, the company’s CEO. Bahafi resigned on 12 September 2024 due to personal reasons, yet it will be effective on 30 September, …
Banking and Finance
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11 September 2024 11:57 AM Saudi Enaya obtains regulatory nod for capital raise
Riyadh – Mubasher: The Capital Market Authority (CMA) approved the request of Saudi Enaya Cooperative Insurance Company to raise its capital by SAR 150 million. The insurance firm aims to increase its capital to SAR 380 million from SAR 230 …
Companies Investments
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4 September 2024 03:28 PM Hakbah, Tawuniya forge new partnership at 24 Fintech
Riyadh – Mubasher: Saudi fintech savings platform Hakbah entered into a new partnership with The Company for Cooperative Insurance (Tawuniya) at the 24 Fintech Conference that kicked off in Riyadh on 3 September. This alliance will reshape the …
Companies Investments