S&P Rating Al Sagr Coop. Ins. Co. “BBB/Positive”

Al Sagr Cooperative Insurance Company announces having been awarded credit rating and financial stability outlook of BBB/Positive by Standard & Poor's, in their press release on 30/04/2014. The company will continue to consistently achieve strong revenue as well as maintain the performance compared with base capital (total equity) amount of SR 334 Million, which helped to improve flexibility of facing the financial risks. Standard & Poor’s agency attribute the high expectation from stable to positive due to the expectation of the level of the capital adequacy (extremely strong) compared to the level of (very strong) as compared to the previous...

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Opening New Point of Sales

Al Sagr Cooperative Insurance Co. announces that on Thursday 10/09/2015 received a letter No. 361 000 149 349 and dated on 11/26/1436 through an e-mail from Saudi Arabian Monetary Agency, approving the opening of the following points of sale by the company: 1. Hafr Al-Batin /Al Safa / King Fahd Street in front of the labor office 2. Jeddah / Al Rabwa / Makrouna Street (eighty) 3. Jeddah / Al Balid / King Abdulaziz Street 4. Jubail / Hay Jubail Al Balid / Jubail Street intersection Jeddah Street 5. Mecca / Al Zaher / Eye Street 6. Riyadh / Al Naseem / Street fortieth 7. Qassim (Onaizah) / Al...

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Motor Insurance

Al Sagr Cooperative Insurance Co. announces that on 01/09/2015 received a letter from the Saudi Arabian Monetary Agency No. 361 000 145 040 containing the provisional approval for a period of 3 months on motor insurance product “Third-party” starting from 01/09/2015 till 11/30/2015....

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Al Sagr Cooperative appointed acting General Manager

04/11/2015 Al Sagr Cooperative Insurance Company announced that the Board of Directors approved to appoint Mr Mamdouh Al Shahrani acting General Manager prior to receiving SAMA's letter No. 371000009379. On Wednesday dated 22/01/1437 H which is approving Mr Mamdouh Al Shahrani to be acing General Manager for a period of 6 months , starting from 08/01/1437 H....

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AL SAGR COOPERATIVE INSURANCE CO. ANNOUNCES THE INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDING ON 31-12-2015

ELEMENT CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR % CHANGE CURRENT PREVIOUS QUARTER % CHANGE PREVIOUS NET PROFIT (LOSS) BEFORE ZAKAT 59,937 14,439 315.1 30,595 95.9 SURPLUS (DEFICIT) OF INSURANCE TRANSACTIONS LESS RETURNS OF POLICY HOLDERS INVESTMENT (OPERATING TRANSACTIONS RESULTS) 62,612 13,693 357.26 31,902 96.26 GROSS WRITTEN PREMIUMS (GWP) 264,236 53,235 396.36 207,023 27.64 NET WRITTEN PREMIUMS (NWP) 248,862 45,734 444.15 196,730 26.5 NET INCURRED CLAIMS 81,134 11,064 633.32 72,437 12.01 NET PROFIT (LOSS) OF POLICY HOLDERS INVESTMENT 3,330 1,966 69.38 912 265.13 NET PROFIT (LOSS) OF SHAREHOLDERS CAPITAL INVESTMENT 1,343 1,213 10.72 1,655 -18.85   ELEMENT CURRENT PERIOD SIMILAR PERIOD FOR PREVIOUS YEAR % CHANGE NET PROFIT (LOSS) BEFORE ZAKAT 104,078 26,567 291.76 SURPLUS (DEFICIT) OF INSURANCE TRANSACTIONS LESS RETURNS OF POLICY HOLDERS INVESTMENT (OPERATING TRANSACTIONS RESULTS) 102,159 15,475 560.16 GROSS WRITTEN PREMIUMS (GWP) 863,838 239,932 260.03 NET WRITTEN PREMIUMS (NWP) 792,635 180,762 338.5 NET INCURRED CLAIMS 256,467 106,091 141.74 NET PROFIT (LOSS) OF POLICY HOLDERS INVESTMENT 8,593 8,372 2.64 NET PROFIT (LOSS) OF SHAREHOLDERS CAPITAL INVESTMENT 7,142 7,520 -5.03 EARNING OR LOSS PER SHARE, RIYALS 3.51 0.51 - All figures are in (Thousands)...

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Al Sagr Cooperative Insurance Company honors one of the largest customers

The Management of Al Sagr Cooperative Insurance Company represented by the General Manager Mr.  Mamdouh Al Shahrani, the Central Region Manager Mr. Samer Nahas and the Marketing Manager  Mr. Ali Al Bandar visited Maharah Human Resource Co. which is one of their  biggest clients. The CEO of Maharah Dr.  Abdullah  Al Amro expressed his thanks and appreciation for the level of services provided by Al Sagr and the mutual trust between them. In addition Mr. Al Shahrani  gave a memorial shield to the CEO of Maharah.  ...

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Announcement of Al Sagr Cooperative Insurance Company

Dear insured customer at Al Sagr Cooperative Insurance Company, we are delighted to serve you and provide the best medical care to you. In case that you did not receive your medical insurance card, we urge you to contact our Customer Care line 920001043 . You may have a detailed look at your medical policy and its table of benefits, as well as the medical providers network through the following: website www.Alsagr.com, unified number 920001043, email: info@alsagr.com In case of not receiving the medical care services satisfactorily, you may make a complaint to the Council of Cooperative Health Insurance (CCHI), by contacting CCHI’s...

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Renewal Contract with Bayt.com

Al Sagr Cooperative Insurance Company renewed their contract with Bayt.com, a recruitment company, which is the present largest recruitment companies in the Middle East, providing a full range of comprehensive and integrated tools and career planning recruitment solutions.   The HR & Administrative Manager, Mr. Suliman Al Nomair mentioned that Al Sagr is eager to attract qualified and specialized Saudis in the field of insurance and that they are committed to the plan of saudization at all levels of work in the insurance sector which is one of the fastest growing sectors in the world.   Also, it has noted that, one of the...

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Announcement of Al Sagr Cooperative Insurance Company

Dear insured customer at Al Sagr Cooperative Insurance Company, we are delighted to serve you and provide the best medical care to you. In case that you did not receive your medical insurance card, we urge you to contact our Customer Care line 920001043  . You may have a detailed look at your medical policy and its table of benefits, as well as the medical providers network through the following:  website www.Alsagr.com, unified number 920001043, email: info@alsagr.com   In case of not receiving the medical care services satisfactorily, you may make a complaint to the Council of Cooperative Health Insurance (CCHI), by contacting...

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Standard & Poor’s Reconfirms Al Sagr Cooperative Insurance Company’s credit rating at BBB

Standard & Poor’s Rating Services has Affirmed the credit rating of Al Sagr Cooperative Insurance Company at  BBB  stable outlook and amended the outlook from positive to stable. In their press release which was published in  May 24, 2016, S&P stated that Al Sagr will maintain extremely strong capital adequacy and at least its current competitive position over the next two years. www.tadawul.com.sa ...

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