Riyadh – Mubasher: Al Sagr Cooperative Insurance Company appointed Saud Saleh Al Arifi as the new Chairman of the board for the next three years.
The insurance firm also named Naif Rashed Alarfaj as the Vice Chairman, according to a bourse disclosure.
The two officials assumed their roles for the current session that began on 23 November 2023 and will remain in position until 22 November 2026.
It is worth highlighting that the Insurance Authority passed the two appointments on 24 December 2023.
In the first nine months (9M) of 2023, Al Sagr Cooperative turned profitable at SAR 39.18 million, against net losses valued at SAR 55.26 million in 9M-22.
Gross written premiums (GWP) amounted to SAR 365.30 million as of 30 September 2023, up 2.11% year-on-year (YoY) from SAR 357.74 million.
