Allied Cooperative Insurance Group (8150)

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News

21 May 2024 03:09 PM ACIG lowers accumulated losses to nearly 17% of capital

Riyadh – Mubasher: Allied Cooperative Insurance Group (ACIG) reduced its accumulated losses to 16.84% of the capital as of 31 March 2024, according to a bourse filing. ACIG suffered lower accumulated losses valued at SAR 49 million, mainly due to …

Banking and Finance

2 January 2024 05:07 PM ACIG cancels stock split, maintains share value

Riyadh – Mubasher: The board of Allied Cooperative Insurance Group (ACIG) reversed its decision to split the nominal value of the share from SAR 10 per share to SAR 0.10 per share during its 6 December 2023 meeting.  The board decided to maintain …

Board of Directors

7 November 2023 08:06 PM ACIG swings to SAR 52m net profits in 9M-23, unveils accumulated losses

Riyadh – Mubasher: Allied Cooperative Insurance Group (ACIG) shifted to net profits before Zakat of SAR 52.16 million in the first nine months (9M) of 2023, compared to a net loss of SAR 35.62 million in 9M-22. The company’s earnings per share …

Financial Results

4 September 2022 09:31 AM Amana Cooperative, ACIG discuss potential merger

Riyadh - Mubasher: Amana Cooperative Insurance Company has inked a non-binding memorandum of understanding (MoU) with Allied Cooperative Insurance Group (ACIG) to evaluate a potential merger between the two companies. The two insurers will conduct …

Mergers and Acquisitions

21 August 2022 02:32 PM ACIG names Al Gadhi as new CEO

Riyadh – Mubasher: Allied Cooperative Insurance Group (ACIG) has appointed Mohammad Abdullah Al Gadhi as the new CEO of the company. The appointment is subject to the Saudi Central Bank’s (SAMA) approval, according to a recent bourse filing. Al …

Board of Directors

7 June 2022 09:45 AM ACIG names new Chairman, Vice Chairman

Riyadh – Mubasher: Allied Cooperative Insurance Group (ACIG) has appointed Yasser bin Muhammad bin Nasser Al Jarallah as the company's Chairman. The company has also named Fayez bin Saleh bin Mahfouz as Vice Chairman and Ali bin Yahya Ali Al …

Board of Directors

16 January 2022 10:50 AM ACIG's rights issue 89% covered

Riyadh – Mubasher: Allied Cooperative Insurance Group (ACIG) has recorded an 88.86% coverage rate of its right issues and subscription. A total of 13.329 out of 15 million shares were subscribed at a total value of SAR 133.296 million, according …

Companies Investments

30 December 2021 01:40 PM ACIG’s EGM approves SAR 150m capital increase

Riyadh – Mubasher: The extraordinary general meeting (EGM) of Allied Cooperative Insurance Group (ACIG) has approved a capital increase by SAR 150 million by offering priority rights. To raise the capital, the company will offer and list 15 …

Management Decisions

20 September 2021 05:02 PM ACIG receives regulatory nod for capital hike

Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) approved for Allied Cooperative Insurance Group (ACIG) to increase its capital through rights issue shares. The company aims to raise the capital by SAR 150 million, according to a …

Corporate Actions

31 August 2021 03:59 PM ACIG names Ghadi as new CEO

Riyadh – Mubasher: Allied Cooperative Insurance Group (ACIG) has appointed Mohamed Abdullah Ghadi as the new CEO of the company, according to a bourse disclosure on Tuesday. Ghadi will assume the new position on Wednesday, 1 September. The new CEO …

Corporate Actions

17 August 2021 05:20 PM ACIG turns to loss in H1-21; accumulated losses total SAR 6m

Riyadh – Mubasher: Allied Cooperative Insurance Group suffered net losses before Zakat worth SAR 1.81 million in the first half (H1) of 2021, against net profits of SAR 9.96 million in H1-20. The loss per share stood at SAR 0.35 in H1-21, versus …

Financial Results

24 March 2021 03:39 PM ACIG’s net profits more than halve in 2020

Riyadh – Mubasher: Allied Cooperative Insurance Group’s (ACIG) recorded a 50.161% decline in net profits before Zakat to SAR 3.546 million in 2020 from SAR 7.115 million in 2019.  The company’s net written premiums decreased by 4.546% to SAR …

Financial Results

16 February 2021 09:33 AM Chairwoman of ACIG resigns

Riyadh – Mubasher: The board of Allied Cooperative Insurance Group (ACIG) has approved the resignation of the company’s chairwoman, Nouf Saud Al-Haqbani. Al-Haqbani’s resignation was submitted for personal reasons and was effective as of 15 …

Board of Directors

3 January 2021 09:46 AM ACIG, SIEC submit capital raise requests to CMA

Riyadh – Mubasher: Allied Cooperative Insurance Group (ACIG) submitted a request to the Capital Market Authority (CMA) for a SAR 150 million capital raise via a rights issue, according to a bourse disclosure on Sunday.  ACIG wants to increase its …

Companies Investments

8 November 2020 09:29 AM ACIG quarterly losses up 163%

Riyadh - Mubasher: Allied Cooperative Insurance Group’s (ACIG) third-quarter net losses before Zakat skyrocketed by 163.22% year-on-year (YoY) to SAR 1.45 million. This is compared to losses of SAR 552,000 in the year-ago period, according to a …

Financial Results

4 October 2020 09:52 AM SAMA greenlights ACIG SAR 150m capital hike

Riyadh - Mubasher: Allied Cooperative Insurance Group (ACIG) announced receiving a no-objection letter from the Saudi Arabian Monetary Authority (SAMA) to increase the company’s capital via a rights issue valued at SAR 150 million. ACIG wants to …

Corporate Actions

8 September 2020 09:25 AM ACIG chairman resigns

Riyadh - Mubasher: The board of Allied Cooperative Insurance Group (ACIG) approved the resignation of the company’s chairman, Thamer bin Abdullah bin Rais. The resignation was submitted on 7 September for personal reasons, according to a bourse …

Board of Directors

27 August 2020 11:04 AM ACIG shareholders approve 29.5% capital reduction

Riyadh - Mubasher: The extraordinary general meeting (EGM) of Allied Cooperative Insurance Group (ACIG) approved the board’s recommendation to cut the company’s capital by 29.5% to SAR 141 million from SAR 200 million. The number of shares will be …

Board of Directors

18 May 2020 00:28 PM CMA approves Allied Cooperative Insurance capital cut

Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has approved the request made by Allied Cooperative Insurance Group Company to reduce its capital from SAR 200 million to SAR 141 million. The capital reduction will be through cutting …

Management Decisions

16 January 2020 04:04 PM ACIG board recommends 29.5% capital cut

Riyadh - Mubasher: The board of the Allied Cooperative Insurance Group (ACIG) has recommended reducing the company’s capital by 29.5% from SAR 200 million to SAR 141 million then raising the capital by SAR 150 million. The aim is to offset …

Corporate Actions

21 November 2019 11:25 AM SAMA orders ACIG to raise statutory deposit

Riyadh - Mubasher: Allied Cooperative Insurance Group (ACIG) announced that it has received a letter from the Saudi Arabian Monetary Authority (SAMA) obligating the company to increase the statutory deposit ratio to 15% of capital. This was …

Management Decisions

12 July 2018 07:18 PM Malath, ACIG decide to drop merger

Riyadh – Mubasher: Malath Cooperative Insurance and Allied Cooperative Insurance Group (ACIG) announced not to continue their merger talks. The decision came after the two companies failed to reach a preliminary agreement regarding the method for …

Mergers and Acquisitions

1 November 2017 03:30 PM ACIG’s profits level down 16% in Q3

Riyadh – Mubasher: Allied Cooperative Insurance Group (ACIG) on Wednesday said its profits went down 16.4% in the third quarter of 2017, compared to the year-ago period. Profits stood at SAR 3.9 million in Q3-17, compared to SAR 4.7 million in …

Financial Results

2 August 2017 10:35 AM ACIG posts higher profits in Q2

Riyadh – Mubasher: Allied Cooperative Insurance Group (ACIG) achieved a growth of 50.12% in net profits before zakat during the second quarter of 2017, compared to the same period a year ago. Earnings increased to SAR 6.6 million in Q2-17 from SAR …

Financial Results

9 May 2017 09:26 AM ACIG posts SAR 5m profits in Q1

Riyadh – Mubasher: Allied Cooperative Insurance Group (ACIG) saw a rise of 29.7% in net profits during the first quarter of 2017. Profits amounted to SAR 4.9 million in Q1-17 from SAR 3.78 million in Q1-16, according to a bourse filing on Tuesday. …

Financial Results