Riyadh — Mubasher: Allied Cooperative Insurance Group (ACIG) has received approval from the Insurance Authority to extend its previously granted authorization for a capital increase.
The insurer plans to raise its capital from SAR 291 million to SAR 300 million through a share issuance with the suspension of preemptive rights.
The regulatory extension provides the company with an additional six months to finalize the transaction.
This development follows the initial board recommendation and subsequent regulatory approval, first announced on 27 August 2025.
Under the terms of the extension, the Insurance Authority has mandated that the company fulfill all requirements from other official authorities.
Furthermore, ACIG is required to provide the regulator with monthly updates regarding the procedures taken to implement the capital increase.
The company stated it will disclose any further developments as they occur.
At the end of June 2026, ACIG announced a reduction in its accumulated losses to 47.33% of its capital.
