Othman Al-Qasabi, CEO of the corporate Cooperative Insurance coverage
The CEO stated Cooperative Insurance coverage Othman Al-Qasabi, stated that the corporate has a plan to launch a reinsurance firm, pending main approvals from regulatory and supervisory authorities.
He defined in statements to Al Sharq, commenting on the monetary outcomes, that medical insurance revenues contributed 74% of whole revenues and 82% of insurance coverage income, and for automobile insurance coverage, it represented 12% of whole revenues and contributed 3% to income, and common insurance coverage represented 13% of whole revenues and contributed 16% to insurance coverage income, and as for the safety and financial savings insurance coverage portfolio, it contributed about 1% to revenues and income as it’s nonetheless within the development stage.
Concerning Mena Clinics, he stated that the corporate added 4 new services, bringing the entire branches to 9 branches, as it’s the largest supplier of dwelling care companies in Riyadh.
He defined that the corporate owns about 28% of the share within the insurance coverage sector, and we’re following the motion of competitors out there, and now we have a plan for growth.
He stated in statements to Al Arabiya that the corporate acquired greater than 25 automotive restore workshops as a part of its growth technique within the automobile sector, stressing that these steps make the cooperative an built-in firm that goes past the idea of conventional insurance coverage to spend money on the each day life companies system.
In response to information numbersThe income of the Cooperative Insurance coverage Firm rose to 902.4 million riyals by the top of the primary 9 months of 2025, in comparison with income of 854.1 million riyals achieved throughout the identical interval in 2024, and income for the third quarter amounted to about 173.3 million riyals.
