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SAICO announces the approval of the Saudi Arabian Monetary Agency to renew permit practicing insurance activity

2013/07/07 (1434-08-28)

Saudi Arabia for Cooperative Insurance announces today Sunday 28/08/1434 H corresponding to 07/07/2013 G the approval from Saudi Arabian Monetary Agency to renew its declaration to conduct insurance business in the Kingdom of Saudi Arabia in the following sections: (general insurance, health insurance, insurance protection and savings) which expires on: 27/08/1437 H

Saudi Arabian Cooperative Insurance Company announces SAMA's Temporary approval for its insurance products.

2013-07-02 (1434-08-23 )      10:30:33

Saudi Arabian Cooperative Insurance Company announces obtaining on 01-07-2013 corresponding to 22-08-1434 the Saudi Arabian Monetary Agency (SAMA) letter No. 341000102994 dated 01-07-2013 corresponding to 22-08-1434 containing SAMA's temporary approval to use of insurance products for Months 4 for the following products : Motor Third Party Liability

The Saudi Arabian Cooperative Insurance Company invites its respectable shareholders to attend the AGM meeting (the sixth AGM)

2013-04-17 (1434-06-07 )      15:57:16

the Saudi Arabian Cooperative Insurance Company hereby invites its respectable shareholders to attend the AGM meeting to be hold on Wednesday 05/07/1434H corresponding to 15/05/2013 at 4:00 PM at Marriot Hotel in Najd Hall Riyadh City to discuss and decide on the following Agenda:
1.Approval of the Board of Directors Annual Report for the financial year 2012.
2.Approval of the Auditors Report, the general budget, and the profit and loss account for the financial year ending 31/12/2012.
3.Discharge and release the members of the Board of Directors from the acts and work done by them during the financial year ended 31/12/2012.
4.Approve the appointment of the External Auditors as nominated by the Audit Committee to audit the Company's financial for the year 2013 Quarters and annual financial and determines their fees.
5.Election of a new Board of Directors for the third term of three years staring from 08/06/2013 as recommended by the Nomination and Remuneration Committee.
6.Approval of the annual remunerations provided for in Article (17) of the Articles of Association which were SR 180,000 for the Chairman and SR 120,000 for the other Board members. Also to approve the annual remuneration of SR 20,000 for the committees members who were not members of the Board of Directors.
7.Approval of the Board of Director's recommendation to renew the approval of the agreements with ACE Agents Company Ltd, and ACE Brokers Company ltd, in which the Chairman Prince Ahmed Bin Khalid Al Saud possessed 10% of the shares in each company.
the Board of Directors directed the attention of the shareholders that each shareholder possesses 20 shares at least shall have the right to attend the AGM and he may appoint any other shareholder to attend on his behalf and represent him provided that he shall not be one of the Board members or one of the Company's employees or any other person who performs a technical or administrative work for the Company on a permanent basis. The delegation or power of attorney duly authenticated shall be send to the Company before three (3) days at least from the date of AGM through the Fax No: 01-4751197 and the original of the delegation or power of attorney shall be presented at the meeting. The required quorum for the AGM conveyance shall be achieved by the presence of 50% of the share capital. The registration process shall start at 3:00 PM on the AGM date mentioned above.

The Saudi Arabian Cooperative Insurance Company announced that it had obtained the renewal of the temporary approval from SAMA for the sale of the compulsory third party liability policy.

2013-03-31 (1434-05-19 )      15:39:46

The Saudi Arabian Cooperative Insurance Company announced that it had obtained the renewal of the temporary approval from SAMA for the sale of the compulsory third party liability policy under article 16 of the Implementing Regulation of the Cooperative Insurance Control Act up to 30/06/2013 as per SAMA letter No: 341000062906 dated 19/05/1434 H received through fax on today afternoon 31/03/2013.

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