Gulf General EGM to vote on board proposal for business continuity on Jan. 18

Logo of Gulf General Cooperative Insurance Co.

Gulf General Cooperative Insurance Co.’s shareholders will vote on the board recommendation on business continuation after accumulated losses reached 50% of capital, in accordance with article 132 of Companies Law, during an extraordinary general meeting (EGM) to be held on Jan. 18, 2026.

In a statement to Tadawul today, Dec. 28, the company said other agenda items include authorizing the board of directors to work on the procedures mentioned in its recommendation to addressing the accumulated losses.

The company noted that the measures taken to address the accumulated losses, in accordance with the board plan, entail the reduction of general and administrative (G&A) expenses.

This is besides continuing to intensify efforts to minimize losses in individual motor insurance; expand sales through digital channels to improve cost-efficiency; and optimize pricing and rationalize costs.

According to Argaam’s data, Gulf General’s accumulated losses amounted to SAR 223.01 million (about 74.34%) of capital by the end of Q3 2025.