Riyadh – Mubasher: Arabia Insurance Cooperative Company appointed Abdulaziz Abdulhadi Al Gahtani as the new Chairman of the board for the next three years.
The insurance firm also named Abdulaziz Saleh Al Omair as the Vice Chairman, according to a bourse disclosure.
Meanwhile, the two officials assumed their roles for the current board term that commenced on 6 April 2023 and will remain in position until 5 April 2026.
During the 12-month period that ended on 31 December 2022, Arabia Insurance posted a 2,310% hike in net profit before Zakat to SAR 12.77 million, compared to SAR 530,000 a year earlier.
Earnings per share (EPS) hit SAR 0.31 last year, versus a loss per share valued at SAR 0.21 in 2021.
The company’s accumulated losses amounted to SAR 41.20 million as of 31 December 2022, which represented 15.60% of the capital.
