Saudi Arabian Cooperative Insurance Company (SAICO)

Contact Details

  • Phone: +966 11 874 9666
  • Fax: +966 11 475 1197
  • Email:
  • Website:
  • Description:

    SAICO, a Saudi joint stock company, was established on the basis of a Royal Decree No. M/60 dated 18/09/1427H (11/10/2006) and Decision of the Council of Ministers No. 233 dated 16/09/1427H. It chose Riyadh to be the Head Office location. In the year 2010 the company obtained SAMA's approval to market insurance products.

    SAICO has a capital of SAR 100 million divided into 10 million shares with a face value of SAR 10 per share. The company's founders contributed a total nominal value of SAR 60 million (six million shares) representing 60 per cent of the company's capital, while the remaining four million shares with a nominal value of SAR 40 million were announced for initial public offering..