Logo ofGulf General Cooperative Insurance Co.
Gulf General Cooperative Insurance Co.’s shareholders will vote on the board’s recommendation with regard the company’s continuation after its losses reached half its capital, in accordance with article 132 of the Companies Law, during an extraordinary general assembly meeting, to be held on Dec. 10, 2025. 
In a statement to Tadawul, the company said that shareholders will also vote on delegating the board of directors to work on the procedures to address the accumulated losses as set out in their recommendation.
The company noted that the measures taken to address the accumulated losses, in accordance with the recommendation of the its board of directors, are as follows:
– Reduction of general and administrative expenses.
– Continuation of intensive efforts to minimize losses in individual motor insurance.
– Growth of sales through digital channels to improve cost-efficiency.
– Continuation of intensive efforts to improve pricing and rationalize costs.
– Considering all other potential measures, including, but not limited to, increasing capital (either by offering new priority rights shares to current shareholders, or by increasing capital through the issuance of new shares with suspended priority rights to new strategic investors or to current shareholders) or by merging with another company listed in the market.
According to Argaam’s data, the company’s accumulated losses amounted to about 74% of capital by the end of Q3 2025.
Logo ofGulf General Cooperative Insurance Co.
Gulf General Cooperative Insurance Co.’s shareholders will vote on the board’s recommendation with regard the company’s continuation after its losses reached half its capital, in accordance with article 132 of the Companies Law, during an extraordinary general assembly meeting, to be held on Dec. 10, 2025.
In a statement to Tadawul, the company said that shareholders will also vote on delegating the board of directors to work on the procedures to address the accumulated losses as set out in their recommendation.
The company noted that the measures taken to address the accumulated losses, in accordance with the recommendation of the its board of directors, are as follows:
– Reduction of general and administrative expenses.
– Continuation of intensive efforts to minimize losses in individual motor insurance.
– Growth of sales through digital channels to improve cost-efficiency.
– Continuation of intensive efforts to improve pricing and rationalize costs.
– Considering all other potential measures, including, but not limited to, increasing capital (either by offering new priority rights shares to current shareholders, or by increasing capital through the issuance of new shares with suspended priority rights to new strategic investors or to current shareholders) or by merging with another company listed in the market.
According to Argaam’s data, the company’s accumulated losses amounted to about 74% of capital by the end of Q3 2025.
