Mr. Walid Ayoub, Chief Executive Officer
Al Suwaiket Building, 1st Floor
Prince Sultan Street (Doha Road)
P.O. Box : 3501, Al Khobar 31952
Tel: (966) 3 859-5363
Fax: (966) 3 859-5490
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Al Sagr Co-operative Insurance Company (SCIC) has been formed in the Kingdom of Saudi Arabia by the promulgation of Royal Decree No. M/11 dated 16/02/1428 (H) and under Operation Licence No. 20083/13/Ê ã ä dated 23/03/1429 (H) as well as Commercial Registration No.1010243765 dated 26/01/1429 (H) to transact all types of insurance business in the Kingdom of Saudi Arabia.
SCIC having SR.200,000,000 paid-up capital is a Public Shareholding Company and lead by Sheikh Abdulrahman Ali Al Turki as the Chairman. Under his auspicious leadership, the Company is at par with the Leading Insurance Companies in the Kingdom.
SCIC has traded 8,400,000 shares in the Saudi Share Market (Tadawul) as Initial Public Offering under its Tadawul Membership No.8180.
Al Sagr was operating its insurance business in the Kingdom of Saudi Arabia since 1983 as a branch to Al Sagr National Insurance Co., Dubai, till it was agreed between Al Sagr National Insurance Co., and the prominent Saudi Business Groups to establish Al Sagr Saudi Insurance Company during December 1998 and was operating under this banner till the above Royal Decree.
The Company is proud of the fact that during its past 25 years of venture in the Saudi Market, it has established a good reputation and record with its clientele who range from locals to multinationals.
It has a long line of dedicated and diligent staff members, who are hand-picked for their true professionalism and expertise. With their ‘near perfect’ handling of the affairs under the efficient leadership of the Management, the Company is confident of conquering new heights in its quest for progress and excellence.
The Company has proven dynamism and leadership for innovative tailor-made risks coverage to suit special requirements of clients. By providing a well-designed program for the client backed up by prompt service and practical solutions, it earns an edge in today’s competitive market.
Al Sagr’s developmental stride was a harmonious process along with the development of the region, and in accordance with the requirement of its reputed clients.
The Company was always quick to respond to the new emerging requirements and situations, which reflected the progress and transformation of the region. The resultant outcome of this hand-in-hand process of development has been remarkable and the Company has consolidated its position of sharing a major chunk of the premium generated in the Kingdom of Saudi Arabia, whilst rendering efficient service to its vast clientele.
We are dedicated to Saudization of the Company as per the directives of Saudi Arabian Monetary Agency (SAMA) and have embarked an excellent program for training the Saudi nationals as insurance professionals. In line with the Co-operative & Islamic principles Al Sagr will hold a separate Policyholders’ Account and share its operational profit with the Policyholders.
THE RISKS WE UNDERWRITE :
- Fire, Allied Perils and Burglary Insurance.
- Marine Cargo Insurance (Sea/Air/Land).
- Marine Hull Insurance.
- Business Interruption, Loss of Profits Insurance.
- Machinery Breakdown Insurance.
- Motor Insurance.
- Contractors All Risks, Erection All Risks Insurance.
- Electronic Equipment and Data Insurance.
- Construction Plant and Equipment/Energy Insurance.
- Workmen’s Compensation, Employer’s Liability Insurance.
- Group Life, Personal Accident Insurance.
- Group Medical Expenses Insurance.
- Medical Malpractice.
- Extended Warranty Insurance.
- Export Credit Insurance.
- Travel Insurance
- All types of Liabilities.