CHUBB Arabia Cooperative Insurance Co (8240)

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News

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

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

1 September 2024 06:24 PM Chubb Arabia announces key board appointments

Riyadh – Mubasher: Chubb Arabia Cooperative Insurance Company unveiled the appointment of Serge Michel Osouf as the Chairman of the board for the new three-year term. The company also announced Steve Brian Dixon as the Vice Chairman and Abdulaziz …

Management Decisions

18 March 2024 01:52 PM Chubb Arabia’s net profit jumps 98% YoY in 2023

Riyadh – Mubasher: Chubb Arabia Cooperative Insurance Company recorded a 97.95% year-on-year (YoY) surge in net profit after Zakat attributable to shareholders to SAR 24.81 million in 2023 from SAR 12.53 million. The insurance revenues grew 10.05% …

Financial Results

23 November 2023 09:11 PM Chubb Arabia renews SAR 52m insurance contract with Sipchem

Riyadh – Mubasher: Chubb Arabia Cooperative Insurance Company recently received a renewal confirmation for a SAR 52.19 million insurance coverage contract from Sahara International Petrochemical Company (Sipchem). Under the one-year contract, …

Companies Investments

7 November 2023 08:27 PM Chubb Arabia records 118% surge in 9M-23 net profit

Riyadh – Mubasher: Chubb Arabia Cooperative Insurance Company recorded net profits before Zakat of SAR 22.15 million in the first nine months (9M) of 2023, signalling a surge of 117.71% from SAR 10.17 million in the same period of the previous …

Financial Results

9 October 2023 09:40 AM Moody’s affirms Chubb Arabia 'A3' IFSR rating; outlook stable

Riyadh – Mubasher: Moody’s Investor Service has affirmed the 'A3' financial strength rating (IFSR) of Chubb Arabia Cooperative Insurance Company, with a stable outlook. The rating reflects the company's robust asset quality, backed by a …

Ratings

4 November 2021 00:24 PM Chubb Arabia renews SAR 53m insurance contract with SIPCHEM

Riyadh – Mubasher: Chubb Arabia Cooperative Insurance Company has received a renewal confirmation for the SAR 52.8 million insurance coverages contract from Sahara International Petrochemical Company (SIPCHEM). Under the one-year contract, Chubb …

Companies Investments

15 August 2021 04:59 PM Chubb Arabia registers SAR 7m profits in H1-21

Riyadh – Mubasher: Chubb Arabia Cooperative Insurance Company announced a 56% plunge in net profits before Zakat to SAR 6.74 million in the first half (H1) of 2021 from SAR 15.4 million in H1-20. Earnings per share declined to SAR 0.27 in H1-21 …

Financial Results

15 July 2021 00:21 PM Chubb Arabia’s shareholders approve capital hike; fluctuation limit announced

Riyadh – Mubasher: The shareholders of Chubb Arabia Cooperative Insurance Company have agreed to increase the capital by 50% or SAR 100 million through bonus shares, according to a bourse filing on Thursday. The new capital will stand at SAR 300 …

Management Decisions

22 June 2021 11:06 AM Chubb Arabia renews its license for three years

Riyadh – Mubasher: Chubb Arabia Cooperative Insurance Company has obtained the approval of the Saudi Central Bank (SAMA) to renew its license. The license allows Chubb to practice general insurance activity from 28 July 2021 for a period of three …

Markets Regulations

10 May 2021 11:09 AM Chubb Arabia achieves lower net profit in Q1

Riyadh – Mubasher: Chubb Arabia Cooperative Insurance Company posted a 28% annual decline in net profits before Zakat to SAR 2.42 million during the first quarter (Q1) of 2021, compared with SAR 3.37 million. Earnings per share (EPS) stood at SAR …

Financial Results

11 April 2021 04:19 PM Chubb Arabia’s board proposes non-distribution of dividends

Riyadh – Mubasher: The board Chubb Arabia Cooperative Insurance Company recommended on 11 April not to pay cash dividends for 2020, according to a disclosure to Tadawul on Sunday. The proposal of halting dividend distribution aims at continuing …

Board of Directors

8 April 2021 00:47 PM SAMA nods to Chubb Arabia’s SAR 100m capital raise

Riyadh – Mubasher: Chubb Arabia Cooperative Insurance Company received the Saudi Central Bank’s (SAMA) approval to increase the capital by SAR 100 million from the retained earnings balance, according to a disclosure to Tadawul on Thursday. The …

Corporate Actions

25 March 2021 04:37 PM Chubb Arabia approves 50% capital hike

Riyadh – Mubasher: The board of Chubb Arabia Cooperative Insurance Company approved increasing the company's capital by capitalizing part of the retained earnings and granting one bonus share for every two shares owned. The distribution of the 50% …

Board of Directors

21 March 2021 04:36 PM Chubb Arabia logs 15% higher profits in 2020

Riyadh – Mubasher: The net profits before Zakat of Chubb Arabia Cooperative Insurance Company increased by 15.27% to SAR 40.8 million in 2020 from SAR 35.398 million in 2019. Higher net profits are attributed to lower net incurred claims, a …

Financial Results

3 November 2020 09:24 AM Chubb Arabia quarterly profit grows 47%

Riyadh – Mubasher: Chubb Arabia Cooperative Insurance Company achieved SAR 14.6 million in net profit before Zakat over the third quarter (Q3) of the year, driven by a decrease in net claims incurred and reversal of allowance for doubtful debts. …

Financial Results

2 November 2020 09:11 AM Chubb Arabia, Sipchem renew SAR 48.7m insurance deal

Riyadh – Mubasher: Chubb Arabia Cooperative Insurance Company has renewed an insurance contract with Sahara International Petrochemical Company (Sipchem) as per the agreed-upon conditions. Under the deal, Chubb Arabia will provide Sipchem with …

Companies Investments

28 October 2020 08:40 AM Chubb Arabia, AlAhli Takaful discontinue merger discussions

Riyadh – Mubasher: Chubb Arabia Cooperative Insurance Company and AlAhli Takaful Company (ATC) announced they agreed to end and discontinue merger discussions. The announcement has no material impact of the financial statements of the two …

Board of Directors

21 October 2020 09:26 AM Chubb Arabia names new CEO

Riyadh – Mubasher: Chubb Arabia Cooperative Insurance Company’s Board of Directors approved by circulation on 20 October the appointment of Kamran Mazhar as the company’s CEO. Mazhar held the position of chief operating officer (COO) at Chubb …

Management Decisions

11 June 2020 00:34 PM Chubb Arabia sees 62% profit plunge in Q1

Riyadh – Mubasher: Chubb Arabia Cooperative Insurance Company’s net profits before Zakat totalled SAR 4.01 million during the first quarter (Q1) of 2020 when compared to SAR 10.62 million, posting a 61.8% annual decrease, as shown by the interim …

Financial Results

19 February 2020 00:46 PM Al Ahli Takaful, Chubb Arabia in initial talks over merger

Riyadh – Mubasher: The boards of Al Ahli Takaful Company and Chubb Arabia Cooperative Insurance Company have started initial talks over a possible merger. In case a merger agreement is reached, a non-binding memorandum of understanding (MoU) is …

Mergers and Acquisitions

20 January 2020 10:28 AM InoChem awards Chubb Arabia SAR 14.8m insurance contract

Riyadh – Mubasher: Chubb Arabia Cooperative Insurance Company on Monday announced a contract sign off with Khair Inorganic Chemical Industries Company (InoChem). Chubb was awarded the contract on 19 January, under which it will provide various …

Companies Investments

31 October 2019 05:27 PM Chubb Arabia, Sipchem ink insurance contract

Riyadh – Mubasher: CHUBB Arabia Cooperative Insurance Company has signed an insurance contract with Sahara International Petrochemical Company (Sipchem) in order to provide coverage for property damage and business interruption risks. The …

Companies Investments

4 September 2019 04:13 PM CHUBB Arabia names new acting CEO

Riyadh – Mubasher: The board of directors of CHUBB Arabia Cooperative Insurance Company has appointed Kamran Mazhar Jaafari as the company’s new acting CEO. Jaafari replaces Abdulaziz bin Abdulkarim Alkhariji, who resigned for personal reasons on …

Board of Directors