Gulf General obtains SAR 50M syndicated shareholders loan

Logo of Gulf General Cooperative Insurance Co.

Gulf General Cooperative Insurance Co. announced today, Oct. 7, that Saudi General Investments and Services Co. and Trading Co. for Marketing Services & Agencies agreed to provide a SAR 50 million joint shareholders loan, with each party contributing SAR 25 million, according to a statement to Tadawul.

The insurer said it received on Oct. 6 the approval of the Saudi Insurance Authority to realize the shareholders’ loan concluded with the founding shareholders for calculating the company’s solvency margin.

These corrective measures, taken by the company’s board of directors and founding shareholders, will strengthen the solvency margin to meet the regulatory minimum requirement.

Any future developments will be revealed in due course once all necessary regulatory procedures are completed, the statement added.

According to available data on Argaam, Saudi General Investments and Services Co. and Trading Co. for Marketing Services & Agencies own 6% each of Gulf General.

Gulf General’s accumulated losses amounted to SAR 191.2 million, representing 64% of its share capital as of H1 2025.