Saudi Arabian Cooperative Insurance Company (SAICO)
InsuranceRiyadh, Saudi Arabia201-500 Employees
SAICO is a Saudi joint stock insurance company headquartered in Riyadh, established by Royal Decree No. M/60 dated 18/09/1427 H (11/10/2006) and Decision No. 233 of the Council of Ministers dated 16/09/1427 H, with Riyadh as its head office. In 2010, it received approval from SAMA to market insurance products and it pursues activities related to insurance and the investment of its capital, including owning and utilizing fixed or capital assets and forming partnerships or subsidiaries as needed. Its major insurance offerings cover vehicles, medical, marine cargo, fire, engineering, aviation, power, group life and accidents. The company has a capital of SAR 100 million, divided into 10 million shares with a face value of SAR 10, of which founders contributed SAR 60 million (6 million shares, 60%) and the remaining 4 million shares (SAR 40 million) were announced for an initial public offering. It employs about 201-500 people and is located in Riyadh; its website is https://saico.com.sa.
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