SABB Takaful is a Saudi joint stock company established under the Royal Decree No. M/60 dated 18/09/1427H corresponding to 11/10/2006G. The company began its fiscal year following the issuance of the Ministerial Resolution No. (108) dated 27/04/1428H corresponding to 15/5/2007 approving the establishment of the company. The company operates in the Kingdom of Saudi Arabia under the Commercial Registration No. 1010234032 issued in Riyadh on 20/05/1428H corresponding to 6/6/2007G, and the SAMA license No. 5/20079 dated 29/08/1428H corresponding to 11/9/2007G, which authorizes the company to run insurance activities for protection, savings and general insurance. The license has been renewed on 28/08/1437H (corresponding to 04/06/2016G) for three years.
The paid up share capital of the company comes to 340 million Saudi riyals divided into 34,000,000 shares with a nominal value of SR 10 per share. Saudi British Bank (SABB (shareholding comes to 22,100,000 shares representing 65% of the company’s capital. The remaining shares totaling 11,900,000, which represent 35% of the company’s capital, have been put up for initial public offering during the period from 27/02/1428H (17/3/2007G) until 08/03/1428H (26/3/2007G) at an offering price of SR 10 per share. This in addition to the subsequent offering made through issuance of the registered shareholders equity as of 17/08/1430H (8/8/2009G) at SR12.50 during the period from 24/08/1430H (15/8/2009G) to 05/09/1430H (26/8/2009G).
SABB Takaful offers a wide range of family and general products compatible with the provisions of Islamic Shariah to meet the needs of customers, including individuals and corporate. SABB Takaful does not own branches at the present time. Neither does it possess property or assets or trading activities outside Saudi Arabia.