EXECUTIVES
Majed A. Al-Suwaigh
Chairman
Majid A. Al-Suwaigh
Board Member
Rasheid S. Al-Rasheed
Board Member
Saud S. Al-Arifi
Board Member
Mohammad A. A. Al-Naeem
Board Member
Ahmad K. A. Al-Bugshi
Board Member
Sultan A. A. Al-Suwaidi
Board Member
Abdulmohsen N. Jaber
Board Member
Sami A. S. Al-Babtain
Board Member
Masoud A. Bhati
Chief Financial Officer (CFO)
SHAREPRICE
52 - Week High
15.5 (16/04/2025)
52 - Week Low
8.56 (01/03/2026)
FINANICALS
Yearly Income Data(SAR '000)
| 31/12/2024 | 31/12/2023 | 31/12/2022 | 31/12/2021 | ||
|---|---|---|---|---|---|
| Underwriting Income (T) | |||||
Gross Premiums
|
503,656 | 486,225 | 473,348 | 438,300 | |
|
Premium ceded to reinsurers
|
473,240 | 465,400 | 513,006 | 45,752 | |
|
Excess of loss reinsurance premium
|
- | - | 19,565 | - | |
|
Net premium written
|
30,416 | 20,825 | -39,658 | 372,983 | |
|
Net changes in unearned premium (IS)
|
- | - | -66,534 | - | |
|
Movement in additional Reserve (IS)
|
- | - | - | - | |
|
Net Premium
|
30,416 | 20,825 | -39,658 | 306,450 | |
|
Insurance commission income
|
- | - | 4,628 | - | |
|
Share of surplus from insurance pool (IS)
|
3,365 | 14,105 | 18,748 | - | |
|
Total underwriting revenues
|
33,781 | 34,930 | -20,910 | 311,078 | |
|
Gross claims paid
|
- | - | 373,258 | - | |
|
Other expenses (Ins.)
|
- | - | 20,704 | - | |
|
Reinsurance share of outstanding claims
|
- | - | 16,772 | - | |
|
Net claims settled
|
- | - | 377,190 | - | |
|
Movement in outstanding claims
|
- | - | 54,865 | - | |
|
Net claims incurred
|
- | - | 322,325 | - | |
|
Policy acquisition costs
|
- | - | 19,686 | - | |
|
Additional premium reserves (Ins.IS)
|
- | - | -2,185 | - | |
|
Other technical reserves (Ins.IS)
|
- | - | 995 | - | |
|
Other underwriting expenses
|
- | - | 10,514 | - | |
|
Net underwriting results
|
33,781 | 34,930 | -20,910 | -42,637 | |
|
Interest Income
|
27,102 | 20,460 | 3,683 | - | |
|
Gain (Loss) from investments carried at fair value through profit or loss
|
278 | 13,436 | -2,900 | - | |
|
Investment income attributable to underwriting
|
27,380 | 33,896 | 783 | - | |
|
Finance (expense) / income from insurance contracts issued (IS)
|
-2,002 | 321 | 2,343 | - | |
|
Finance income / (expense) from reinsurance contracts held (IS)
|
1,475 | 688 | -1,760 | - | |
|
Net insurance finance expense (IS)
|
-527 | 1,009 | 584 | - | |
|
Underwriting surplus (Deficit)
|
60,634 | 69,835 | -19,544 | -42,637 | |
|
Investment Income (Loss)
|
- | - | - | 46,300 | |
|
Other Income
|
- | - | 2,462 | - | |
|
Provision for premium deficiency (Ins.)
|
- | - | 3,209 | - | |
|
General and administrative expenses (IS)
|
19,949 | 20,308 | 29,254 | 75,486 | |
|
Finance costs over lease liabilities (IS)
|
13 | 27 | 62 | 129 | |
|
Net income for the year before attribution and zakat (IS)
|
40,672 | 49,500 | -48,860 | -72,701 | |
|
Net income for the year attributed to the insurance operations (IS)
|
- | - | - | - | |
|
Pre Zakat Profit
|
40,672 | 49,500 | -48,860 | -72,701 | |
|
Zakat
|
8,814 | 7,200 | 4,600 | 1,770 | |
|
Net Profit
|
31,858 | 42,300 | -53,460 | -74,471 | |
|
Total Dividends
|
- | - | - | - | |
|
BASIC EPS
|
1.26 | 1.99 | -3.82 | -5.32 | |
|
Diluted EPS
|
1.26 | 1.99 | -3.82 | -5.32 | |
Balance Sheet Data(SAR '000)
| 31/12/2024 | 31/12/2023 | 31/12/2022 | 31/12/2021 | |||
|---|---|---|---|---|---|---|
| Assets | ||||||
|
Term deposits (Ins.)
|
219,951 | 203,206 | 127,000 | 86,250 | ||
|
Due from insurance and reinsurance companies
|
19,955 | 37,480 | 34,509 | 94,626 | ||
|
Reinsurers share of unearned premiums
|
- | - | 27,492 | - | ||
|
Reinsurer share of outstanding claims
|
- | - | 42,688 | - | ||
|
Deferred policy acquisition costs (IA)
|
- | - | 12,522 | - | ||
|
Due from Shareholders (Ins.)
|
- | - | - | - | ||
|
Investments held for trading
|
- | - | - | - | ||
|
Unit linked investments (Ins. A)
|
- | - | - | - | ||
|
Properties under construction (Ins)
|
- | - | - | - | ||
|
Fixed Assets (Ins)
|
6,248 | 4,173 | 5,248 | 5,210 | ||
|
Right of use assets (NCA)
|
402 | 938 | 2,687 | 4,405 | ||
|
Intangible Assets
|
9,478 | 5,114 | 6,053 | 5,721 | ||
|
Cash and cash equivalents
|
262,560 | 155,748 | 222,967 | 288,218 | ||
|
Investments
|
146,150 | 93,874 | 90,057 | 57,192 | ||
|
Available for sale Investments
|
- | - | 30,567 | - | ||
|
Held to maturity investments
|
- | - | - | - | ||
|
Prepayments and other assets
|
22,612 | 25,096 | 26,833 | 27,537 | ||
|
Due from Insurance operations
|
- | - | - | - | ||
|
Due from related Parties
|
- | - | - | - | ||
|
Goodwill
|
25,514 | 25,514 | 25,514 | 25,514 | ||
|
Accrued income on statutory deposit (A)
|
640 | 1,814 | 6,026 | 5,841 | ||
|
Statutory deposit
|
30,000 | 21,000 | 21,000 | 40,000 | ||
|
Total Assets
|
743,509 | 573,956 | 567,895 | 753,782 | ||
| Liabilities & Shareholders' Equity | ||||||
| Liabilities | ||||||
|
Accounts Payable (Ins.)
|
- | - | 5,855 | - | ||
|
Due to insurance and reinsurance companies
|
284,410 | 308,173 | 325,881 | 17,935 | ||
|
Unearned commissions (IL)
|
- | - | 2,776 | - | ||
|
End of service indemnities (Ins.)
|
8,869 | 9,062 | 8,032 | 9,204 | ||
|
Unearned premium
|
- | - | 246,505 | - | ||
|
Gross outstanding claims
|
- | - | 131,594 | - | ||
|
Insurance premium reserve (Ins.L)
|
- | - | 16,210 | - | ||
|
Other technical provisions (IL)
|
- | - | 5,134 | - | ||
|
Due to shareholders operations (Ins)
|
- | - | - | - | ||
|
Distributable surplus
|
- | - | 19,177 | - | ||
|
Zakat payable
|
30,409 | 40,186 | 42,654 | 42,652 | ||
|
Accrued dividends for shareholders
|
369 | 370 | 370 | 370 | ||
|
Due to Insurance operations
|
- | - | - | - | ||
|
Return payable on statutory deposit (L)
|
640 | 1,814 | 6,026 | 5,841 | ||
|
Lease liabilities
|
790 | 1,442 | 2,617 | 3,806 | ||
|
Due to related parties
|
- | 1,124 | 1,124 | 1,124 | ||
|
Accruals and other liabilities
|
17,112 | 13,587 | 27,734 | 32,321 | ||
|
Total Liabilities
|
342,599 | 375,759 | 414,437 | 540,505 | ||
| Shareholders' equity | ||||||
|
Capital
|
300,000 | 140,000 | 140,000 | 400,000 | ||
|
Cumulative change in fair values
|
58,608 | 41,561 | 37,780 | 6,945 | ||
|
Statutory Reserves
|
8,982 | 2,611 | - | - | ||
|
Re-measurement of defined benefit obligations (SE)
|
4,479 | 3,583 | 4,925 | 3,375 | ||
|
Retained Earnings
|
28,840 | 10,443 | -29,247 | -197,043 | ||
|
Owners Equity
|
400,910 | 198,198 | 153,458 | 213,277 | ||
|
Total Liabilities & Shareholders Equity
|
743,509 | 573,956 | 567,895 | 753,782 | ||
(SAR '000)
| 31/12/2024 | 31/12/2023 | 31/12/2022 | 31/12/2021 | |||
|---|---|---|---|---|---|---|
| Cash flow (Insurance operations) | ||||||
| Cash flows from operating activities: (Ins) | ||||||
|
Depreciation (Ins)
|
1,635 | 2,703 | 3,565 | 3,077 | ||
|
Net cash from operating activities (Ins.)
|
- | - | - | - | ||
| Cash flow from investing activities: (Ins.) | ||||||
|
Net cash from investing activities (Ins.)
|
- | - | - | - | ||
|
Net change in cash and cash equivalents (Ins.)
|
- | - | - | - | ||
|
Cash and cash equivalents, beginning of year (Ins.)
|
- | - | - | - | ||
|
Cash and cash equivalents, end of year (Ins.)
|
- | - | - | - | ||
| Cash flow (Shareholders) | ||||||
| Operating Activities | ||||||
|
Cash Flow From Operating Activities
|
27,603 | -3,032 | -72,317 | -124,565 | ||
| Investing Activities | ||||||
|
From Investing Activities
|
-73,051 | -63,249 | 8,357 | 72,359 | ||
| Financing Activities | ||||||
|
From Financing Activities
|
152,259 | -939 | -1,291 | -2,913 | ||
|
Increase (Decrease) in Cash
|
106,812 | -67,219 | -65,252 | -55,119 | ||
|
Cash and cash equivalents at beginning of the year
|
155,748 | 222,967 | 288,218 | 343,337 | ||
|
Cash and cash equivalents at end of the year
|
262,560 | 155,748 | 222,967 | 288,218 | ||
Yearly Financial Statement 2023
BOARD REPORTS
GENERAL MEETINGS
ABOUT Al Sagr Cooperative Insurance Co.
Al Sagr Cooperative Insurance Co., established in 1983, has nearly four decades of experience in the Saudi insurance market. Originally linked to Alsagr National Insurance Company in the UAE and later to Saudi Alsagr Insurance in Bahrain, the company has steadily built a strong reputation for reliability and trust.
The company's mission is rooted in providing security and confidence to the local community by strengthening the role of insurance. It emphasizes ethical practices, fairness, and responsibility, while continuously adapting to market developments and adopting modern business models. Its vision is to be recognized as a leader in Saudi Arabia's insurance sector, distinguished by high-quality standards and socially responsible operations.
Al Sagr's services are designed to meet the needs of both individuals and businesses. Through its branches across the Kingdom, it offers integrated insurance solutions backed by world-class reinsurance partners. Risk management is a key part of its approach, with engineers inspecting properties and projects to provide recommendations that enhance safety and security. This proactive stance ensures that clients can protect their financial positions while enjoying peace of mind.
The company's success is driven by its experienced team, known for integrity and professionalism. Management has invested in attracting top talent and providing training programs to ensure employees remain aligned with industry developments. Al Sagr also places importance on investing in Saudi youth, offering opportunities for professional growth within a supportive environment.
In essence, Al Sagr Cooperative Insurance Co. combines technical expertise, ethical values, and customer-focused innovation. Its long-standing presence in the market, commitment to quality, and dedication to social responsibility make it a trusted partner for individuals and businesses seeking comprehensive insurance solutions in Saudi Arabia.
Al Sagr Cooperative Insurance Co.
Investor.Relation@alsagr.com
www.alsagr.com
+966 38302294
+966 38302296
Paidup Capital: 300,000,000.00
Per Value Per Shares : 10.00
Outstanding Shares : 30,000.00
MEDIA
NEWS
19/02/2013
Al Sagr Cooperative Insurance Company announces its results
Al Sagr Cooperative Insurance Company announces its results as follows: 1. Net profit before zakat for the year ended Dec 31, 2012 is 33,122 thousand riyals, compared to 37,029 thousand riyals for the previous year, a decrease of 11%. 2. Earnings per.....
21/01/2013
SAGARINSURANCE Announces the Interim Financial Results
AL SAGR COOPERATIVE INSURANCE COMPANY ANNOUNCES ITS INTERIM FINANCIAL RESULTS FOR THE TWELVE MONTHS ENDED DEC 31, 2012 (TWELVE MONTHS) 1. Net profit before Zakat for the fourth quarter ended Dec 31, 2012 is 7,072 thousand riyals, compared to 11,436.....
22/02/2012
Al Sagr Cooperative Insurance Company announced its results
1. Net profit before zakat for the year ended Dec 31, 2011 is 37,029 thousand riyals, compared to 24,978 thousand riyals for the previous year, an increase of 48%. Net profit after zakat for the year ended Dec 31, 2011 is 32,029 thousand riyals, compared.....
19/07/2011
Al Sagr posts 253% jump in Q2 net profit
Al Sagr Cooperative Insurance Company's net profit skyrocketed 253 percent in the second quarter to SR8,697 thousands compared to SR2,466 thousand for the same quarter of previous year, and climbed 401 percent to SR1,735 thousand from the previous.....