Brand of the Gulf Normal Cooperative Insurance coverage Firm
The extraordinary basic meeting of the corporate votes Gulf Normal Cooperative Insurance coveragescheduled to be held on Wednesday, December 10, 2025, primarily based on the Board of Administrators’ advice relating to the corporate’s continuation of its enterprise after its losses attain half of the capital in accordance with Article 132 of the Corporations Legislation.
In keeping with an organization assertion in the present day on Tadawul, the agenda consists of authorizing the Board of Administrators to work on the procedures contained in its advice associated to addressing the gathered losses.
The corporate indicated that the measures taken to handle the gathered losses are in accordance with the advice of the Board of Administrators. They’re as follows:
– Decreasing basic and administrative bills.
– Persevering with intensive efforts to cut back automobile insurance coverage losses for people.
– Develop gross sales by way of digital channels to enhance value effectivity.
– Persevering with intensive efforts to enhance pricing and rationalize prices.
– Contemplating all different attainable measures, together with, however not restricted to, growing capital (whether or not by providing new rights shares to current shareholders, or growing capital by issuing new shares with the suspension of rights points to new strategic traders or present shareholders) or merging with one other firm listed available on the market.
In keeping with information numbersThe gathered losses of Gulf Normal Insurance coverage Firm reached by the top of Third quarter 2025 About 74% of the capital.
