Al Sagr Company for Cooperative Insurance
Al Sagr Company for Cooperative Insurance ( S C C I ) has been licensed in the Kingdom of Saudi Arabia by the promulgation of Royal Decree No. M/11 dated 16/02/1428 (H) from His Majesty King Abdallah bin Abdulaziz Al-Saud to transact all types of insurance business in the Kingdom of Saudi Arabia.
However, Al Sagr was operating its insurance business in the Kingdom of Saudi Arabia since 1983 as a branch to Al Sagr National Insurance Co., Dubai, till it was agreed between Al Sagr National Insurance Co., and the prominent Saudi Business Groups to establish Al Sagr Saudi Insurance Company during December 1998 and was operating under this banner till the above Royal Decree.
S C C I is a public shareholding company with a paid up Capital of SR.200,000,000. It is currently operating in the Kingdom of Saudi Arabia through its Head Office in AlKhobar and branches in Dammam, Riyadh and Jeddah.Today, SCCI is, undoubtedly one of the leading insurance companies in the Kingdom of Saudi Arabia. The Company is proud of the fact that during its past 24 years of venture in the Saudi Market, it has established a good reputation and record with its clientele who range from locals to multinationals. It has a long line of dedicated and diligent staff members, who are hand-picked for their true professionalism and expertise. With their ‘near perfect’ handling of the affairs under the efficient leadership of the Management, the Company is confident of conquering new heights in its quest for progress and excellence.
The Company has proven dynamism and leadership for innovative tailor-made risks coverage to suit special requirements of clients. By providing a well-designed program for the client backed up by prompt service and practical solutions, it earns an edge in today’s competitive market. Al Sagr has never been alone and solitary marcher in the wilderness. The Company’s developmental stride was a harmonious process along with the development of the region, and in accordance with the requirement of its reputed clients.
The Company was always quick to respond to the new emerging requirements and situations, which reflected the progress and transformation of the region. The resultant outcome of this hand-in-hand process of development has been remarkable and the Company has consolidated its position of sharing a major chunk of the premium generated in the Kingdom of Saudi Arabia, whilst rendering efficient service to its vast clientele.
We are dedicated to Saudization of the Company as per the directives of Saudi Arabian Monetary Agency (SAMA) and have embarked an excellent program for training the Saudi nationals as insurance professionals. In line with the Islamic principles Al Sagr will reimburse part of the premium to the policyholders, who would remain claim-free during the policy year, at the expiry of the policy.
Board of Directors
Chairman Sheikh Abdulrahman Ali Al Turki
Vice-Chairman Mr. Abdalla Juma Al Sari
Director Sheikh Abdulrahman Hassan Sharbatly (Director ) Mr. Mohammed Sami Rawi Shakhshir (Director ) Sheikh Abdulla Rasheed Al Rushaid (Director ) Mr. Abdul Mohsin Abdalla Al Sunaid (Director )
General Manager Mr. Walid D. Ayoub
Branches: Dammam; Riyadh; Jeddah