Axa Cooperative Insurance Company capital increase

On 16 December 2019, Riyadh, the Saudi capital, hosted the general assembly of AXA Cooperative Insurance Company within which the decision to increase the share capital was taken.

The latter will rise from 450 million SAR (120 million USD) to 500 million SAR (133 million USD) thus increasing by 11.11%. This operation will boost the free shares which are expected to level up from 45 000 000 to 49 999 950.

AXA Cooperative Insurance Company reported a turnover of 1.446 million SAR (385 million USD) in 2018 and ranks 5th in the local market.