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. The company aims at practicing all relevant activities to insurance. The company performs such works as may be necessary to realize its objectives whether in terms of insurance or investment of its capital. It can also own and activate fixed or capital assets as well as sell, replace or rent the same, whether directly or through companies it establishes for this purpose or via partnership with others. The major activity of the company includes offering insurance service in the fields of: vehicles, medical, sea shipment, fire, engineering, aviation, power, group life insurance and accidents.

SAICO has a capital of SR 300 million divided into 10 million shares with a face value of SR10 per share. The company’s founders contributed a total nominal value of SR60 million (6 million shares) representing 60 percent of the company’s capital, while the remaining 4 million shares with a nominal value of SR40 million were announced for initial public offering.

Open site

Free real-estate listing site in Saudi Arabia and Arab world

Working to empower society to use technology effectively

The Future Company for Modern Equipment is one of the companies of the United Matbouli Group, it was established in 2001 and is the sole distributor of Samsung Electronics.