Allied Cooperative Insurance Group - Company Profile
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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, Al Khobar, and Khamis Mushayt. ACIG is headquartered in Riyadh, Saudi Arabia.
Headquarters
Saudi Arabia
Address
P.O.Box 40523, Riyadh, 11511
Website
acig.com.sa
Telephone
966 1 14852626
Industry
Financial Services
Ticker Symbol & Exchange
8150 (SAU)
Revenue (2022)
$160.4M
22.3%
(2022 vs 2021)
EPS
XYZ
Net Income (2022)
XYZ
88.4%
(2022 vs 2021)
Market Cap*
$154.9M
Net Profit Margin (2022)
XYZ
90.5%
(2022 vs 2021)
* As of and is in US$
Allied Cooperative Insurance Group premium industry data and analytics
Products and Services
| Products | Services |
|---|---|
| Motor Third-Party Liability Insurance | Claims Services |
| Motor Comprehensive Insurance | |
| Medical Insurance | |
| XYZ | |
| XYZ | |
| XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2024 | Others | In February, the company terminated its merger with Amana Cooperative Insurance Company. |
| 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. |
Competitor Comparison
| Key Parameters | Allied Cooperative Insurance Group | Arabian Shield Cooperative Insurance Co | Allianz Saudi Fransi Cooperative Insurance Co | Arabia Insurance Cooperative Company | Al Sagr Cooperative Insurance Company |
|---|---|---|---|---|---|
| Headquarters | Saudi Arabia | Saudi Arabia | Saudi Arabia | Saudi Arabia | Saudi Arabia |
| City | Riyadh | Riyadh | Riyadh | Riyadh | Al-Khobar |
| State/Province | - | Riyadh | Riyadh | - | - |
| No. of Employees | - | - | 462 | - | - |
| Entity Type | Public | Public | Public | Public | Public |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Ali Bin Yahya Ali Al-Jaafari | Director; Managing Director | Executive Board | - | - |
| Mohammed Abdullah Al Gadhi | Chief Executive Officer | Senior Management | - | - |
| Hassan Owadh Al Hazmi | Vice President - Sales and Marketing | Senior Management | - | - |
| Tawfeeg Ali Abdullah Alkulli | Vice President - Finance and Investment | Senior Management | - | - |
| Yasser bin Muhammad AL Jarallah | Chairman | Non Executive Board | - | - |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
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