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Saudi Arabian Cooperative Insurance Company JSC (Saudi Arabia)

Main Activities: Direct Life, Health, and Medical Insurance Carriers | Direct Insurance (except Life, Health, and Medical) Carriers
Full name: Saudi Arabian Cooperative Insurance Company JSC Profile Updated: March 13, 2024
Buy our report for this company USD 29.95 Most recent financial data: 2022 Available in: English Download a sample report

The company's underwriting activity in the Kingdom of Saudi Arabia dates back to 1964 when Saudi Arabian Insurance Company Ltd. BSC (C) associate Al Nisr Insurance Company SAL started operating in KSA. Ever since its establishment in 1980, SAICO BSC (C). has been operating in the Kingdom of Saudi Arabia through its general agents Arab Commercial Enterprises (ACE), which has a network of operations across the Middle East region and Europe including Saudi Arabia, Bahrain, Abu Dhabi, Dubai, Lebanon, Qatar, Oman, Kuwait and Greece.

In view of the opportunities presented by the new Insurance Law, SAICO BSC (C) applied for an insurance license through the Saudi Arabian Monetary Agency (SAMA) to establish a new joint stock company. The name of the new company is ''Saudi Arabian Cooperative Insurance Company'' (SAICO). Having obtained license, SAICO has commenced operations on 25 August, 2009.

Headquarters
Platinum Center, Salahuddin St, P.O Box 58073
Riyadh; Al-Riyadh; Postal Code: 11594

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Website: http://www.saico.com.sa

Basic Information
Total Employees:
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Outstanding Shares:
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Registered Capital:
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Financial Auditors:
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Incorporation Date:
2007
Key Executives
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Chairperson
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Vice Chairperson
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Director / Member of the Management Board
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Chief Executive Officer
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Chief Financial Officer
Ownership Details
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70%
Company Performance
Financial values in the chart are available after Saudi Arabian Cooperative Insurance Company JSC report is purchased.
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Key Financial Highlights
Annual growth percentages for latest two years in local currency SAR. Absolute financial data is included in the purchased report.
Net insurance premium revenue
26.39%
Operating profit (EBIT)
N/A
Net Profit (Loss) for the Period
N/A
Total assets
5.5%
Investments
-81.11%
Total equity
21.13%
Net Premiums Earned Trend
17.27%
Net Profit Trend
N/A
Return on Equity (ROE)
N/A
Loss Ratio
-5.57%
Underwriting Expenses Ratio
-30.02%

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