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Allied Cooperative Insurance Group: Overview

Allied Cooperative Insurance Group (ACIG) is a general insurance company. It offers insurance products for motor, medical, travel, personal accident, home, workmen’s compensation, public liability, marine, and medical malpractice. The company also offers a range of engineering insurance products, which includes contractors' all risks insurance, erection all risks insurance, machinery breakdown insurance, and electronic equipment insurance. ACIG also offers property insurance products such as fire and allied perils insurance, property all risks insurance, and home insurance. These products and services are offered to individuals and corporate customers through a network of branches located in Jeddah, Khobar, Riyadh, and Khamees Mushait. ACIG is headquartered in Riyadh, Saudi Arabia.

Headquarters Saudi Arabia

Address P.O.Box 40523, Riyadh, 11511


Telephone 966 1 14852626

Industry Financial Services

Ticker Symbol & Exchange 8150 (SAU)

Revenue (2021) $131.1M 7.4% (2021 vs 2020)

EPS XXX

Net Income (2021) XXX -12395.5% (2021 vs 2020)

Market Cap* $90.6M

Net Profit Margin (2021) XXX -11,565.0% (2021 vs 2020)

   

* As of and is in US$

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Insurance Market Data Insights

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Products and Services

Products Services
Motor Third-Party Liability Insurance Claims Services
Motor Comprehensive Insurance
Medical Insurance
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History

History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.

Year Event Description
2022 Contracts/Agreements In September, the company entered into an agreement to merge with Amana Cooperative Insurance.
2021 Regulatory Approval In March, the company received approval from Saudi Central Bank to sell Motor Vehicles Financially Leased to Individuals insurance product in Saudi Arabia.
2007 Stock Listings/IPO The company was listed on Saudi Arabian Stock Exchange.
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Competitor Comparison

Key Parameters Allied Cooperative Insurance Group Arabian Shield Cooperative Insurance Co Allianz Saudi Fransi Cooperative Insurance Co Al Sagr Cooperative Insurance Company Arabia Insurance Cooperative Company
Headquarters Saudi Arabia Saudi Arabia Saudi Arabia Saudi Arabia Saudi Arabia
City Riyadh Riyadh Riyadh Al-Khobar Riyadh
No. of Employees - - 462 - -
Entity Type Public Public Public Public Public
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Executives
Name Position Board Since Age
Mohamed Abdullah Al Gadhi Chief Executive Officer - Acting Senior Management 2021 -
Fawaz Mohmaed Naser Elshereby Chairman Executive Board 2021 -
Hussam Talal Ghazzawi Vice Chairman Executive Board 2019 -
Hassan Owadh Al Hazmi Vice President - Sales and Marketing Senior Management - -
Shagul Hameed Sharif Vice President - Finance and Investment Senior Management - -
Non Dignissim Eros Proin vel Convallis 2022 XX
Non Dignissim Eros Proin vel Convallis 2022 XX
Non Dignissim Eros Proin vel Convallis 2022 XX
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