Al Sagr Cooperative is one of the few companies who spearheaded in registering as a public cooperative insurance in the Kingdom of Saudi Arabia stipulated by the Royal Decree No. Today, we are a fully licensed public company transacting all types of insurance business and are sharing with Al Sagr Cooperative peers the thrill of implementing regulations in the Saudi Insurance Market applying to its players, as well as the witnessing of the birth of a regulated Saudi Insurance Industry. From its humble start in the KSA, in 1983, as a branch office for a Dubai based insurance company, today Al Sagr Cooperative Insurance Company is a public Saudi shareholding company with a paid up capital of SR 250 million.
We are the strong players of the old times renewed in the newly born regulated market which is Al Sagr Cooperative playground and we are very familiar with its terrain.
The challenges for us to meet are external and internal. Of the external challenges are establishing healthy competitive atmosphere in Al Sagr Cooperative marketing and sales strategies. It is one of the internal challenges that pose the real challenge to achieve and behind which Al Sagr Cooperative with all its recourses, manpower, board of directors and shareholders are mobilized. We aim to grow to a position worthy for us and Al Sagr Cooperative peers to share as leading insurance company and we are on track to achieving Al Sagr Cooperative goal.