Saico, a Saudi joint stock company, was established by Royal Decree No. M/60 on 18/9/1427 H (11/10/2006) and Cabinet Resolution No. 233 on 16/09/1427 H. Riyadh was chosen to be the location of its headquarters. In 2010, the company obtained approval from the Saudi Arabian Monetary Authority to market insurance products. The company aims to engage in all activities related to insurance. It carries out activities that may be necessary to achieve its objectives, whether related to insurance or investment of its capital. It can also own and activate fixed or capital assets, as well as sell, exchange, or lease them, either directly or through companies established for this purpose or by partnering with others. The company’s main activity includes providing insurance services in the fields of: vehicles, medical, marine cargo, fire, engineering, aviation, energy, group life insurance, and accidents.

Saico’s capital is 300 million Saudi Riyals, divided into 10 million shares with a nominal value of 10 Riyals per share. The founders of the company contributed a total value of 60 million Saudi Riyals (6 million shares), representing 60 percent of the company’s capital, while the remaining 4 million shares with a nominal value of 40 million Riyals were announced for the initial public offering.

Our Vision

The company’s vision consists of sound planning and future goals to capitalize on the rapid and anticipated growth of the insurance sector in the Kingdom. Saico aims to achieve desired outcomes for the benefit of shareholders, customers, and the insurance sector as a whole.

Our Mission

Saico’s objectives are summarized in providing insurance products and services that offer good protection at reasonable prices through successful partnerships with its customers, agents, brokers, and insurance companies to the extent necessary and to ensure that the interests and general objectives of all stakeholders are respected.