Salama and Al Sagr: share capital increase

Salama Cooperative Insurance has been granted approval by the Saudi Insurance Authority (IA) to increase its share capital from 200 million SAR (53.3 million USD) to 300 million SAR (79.9 million USD).

This operation was carried out to meet the minimum capital requirements imposed by the IA.

For its part, Al Sagr Cooperative Insurance is also planning to increase its share capital by 160 million SAR (42.6 million USD) to 300 million SAR (79.9 million USD). The transaction is subject to the approval of the company's shareholders.

By increasing its share capital, Al Sagr is looking to support its future projects, improve its solvency margin and meet its minimum capital requirements.