| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Chubb Arabia for Cooperative Insurance is pleased to announce the results of the 18th Annual General Assembly (first meeting), which was held at 6:30 pm on Tuesday 06/16/2026 AD corresponding to 01/01/1448 AH, remotely by means of contemporary technology using Tadawulaty. |
| City and Location of the General Assembly's Meeting | Through modern technology means from the Company’s office in Khobar City (using Tadawulaty platform) |
| Date of the General Assembly's Meeting | 2026-06-16 Corresponding to 1448-01-01 |
| Time of the General Assembly’s Meeting | 18:30 |
| Percentage of Attending Shareholders | 55.33 |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | Attendance: 1- Mr. Serge Michel Osouf (Chairman of the Board) 2- Mr. Stephen Brian Dixon (Vice Chairman) 3- Mr. Abdulaziz bin Abdul-Karim Elkhereji 4- Mr. Giles Richard Ward 5- Mr. Christine Raymond Mounis 6- Mr. Wahdan Bin Sulaiman Alkadi 7- Eng. Hisham bin Abdulrahman El-khereji 8- Mr. Mohammed bin Abdul-Karim Al-khereji 9- Mr. Nikolay Vyacheslav Dmitriev Absent: N/A |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | attended: 1- Mr. Abdulaziz bin Abdul-Karim Al-Khereijii (Chairman of the Executive Committee) 2- Mr. Mohammad Akeel Alshaya (Chairman of the Audit Committee) 3- Mr. Wahdan bin Sulaiman Alkadi (Chairman of the Nominations and Remuneration Committee) 4- Mr. Christine Raymond Mounis (Chairman of the Risk Committee) 5- Mr. Mohammed bin Abdul-Karim Al-khereiji (Chairman of the Investment Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. The Board of Directors' report for the ending fiscal year 31 December 2025, has been reviewed and discussed. 2. Approval of the auditor/s report on the Company’s accounts for the ending fiscal year 31 December 2025 and making decision thereon. 3. The financial statements for the ending fiscal year 31 December 2025, has been reviewed and discussed. 4. Approval on the business and contracts concluded for the fiscal year ending 31 December 2025 between the company and El-Khereiji Real Estate Company, in which the members of the Board of Directors, Mr. Mohammed Al-Khereiji and Mr. Abdulaziz Al-Khereiji, have an indirect interest. These contracts are insurance contracts for a period of one year without any preferential terms, noting that the transactions amounted 290,227 Saudi Riyals. 5. Approval on the business and contracts concluded for the fiscal year ending 31 December 2025 between the company and El-Khereiji Trading and Electronics company, in which the members of the Board of Directors, Mr. Mohammed Al-Khereiji and Mr. Abdulaziz Al-Khereiji, have an indirect interest. These contracts are insurance contracts for a period of one year without any preferential conditions, noting that the transactions amounted 37,398 Saudi Riyals. 6. Approval on the business and contracts concluded for the fiscal year ending 31 December 2025 between the company and the Saudi Ceramics Company, in which the members of the Board of Directors, Mr. Mohammed Al-Khereiji and Mr. Abdulaziz Al-Khereiji, have an indirect interest. These contracts are insurance contracts for a period of one year without any preferential conditions, noting that the transactions amounted 382,945 Saudi Riyals. 7. Approval on the business and contracts concluded for the fiscal year ending 31 December 2025 between the company and Knowledge Enrichment Co. in which the members of the Board of Directors, Mr. Mohammed Al-Khereiji and Mr. Abdulaziz Al-Khereiji, have an indirect interest. These contracts are insurance contracts for a period of one year without any preferential conditions, noting that the transactions amounted 21,610 Saudi riyals. 8. Approval on the business and contracts concluded for the fiscal year ending 31 December 2025 between the company and Al Khereiji Construction Co, in which the members of the Board of Directors, Mr. Mohammed bin Abdul Karim Al-Khereiji and Mr. Abdulaziz bin Abdul Karim Al-Khereiji, have an indirect interest. These contracts are insurance contracts for a period of one year without any preferential conditions, noting that the transactions amounted 41,112 Saudi Riyals. 9. Approval on the business transactions and contracts concluded for fiscal year ending 31 December 2025, between the Company and Chubb Group, of which Chubb INA International Holdings Limited is also a member. The Company is represented by three members of the Board of Directors: Mr. Stephen Dixon, Mr. Giles Ward, and Mr. Nikolay Dmitriev. These transactions consist of reinsurance transactions for one year, without any preferential terms, noting that the transactions amounted 58,781,677 SAR. 10. Approval on the business and contracts concluded for the fiscal year ending 31 December 2025 between the company and El-Khereiji Trading and Electronics Company, in which the members of the Board of Directors, Mr. Mohammed Al-Khereiji and Mr. Abdulaziz Al-Khereiji, have an indirect interest. These contracts are lease contracts for buildings, the company’s main office and the Riyadh branch, for a period of one year without any preferential conditions, noting that the transactions amounted 1,716,657 Saudi Riyals. 11. Approval on the business and contracts concluded for the fiscal year ending 31 December 2025 between the company and the General Maintenance Center for cars , in which the members of the Board of Directors, Mr. Mohammed bin Abdul Karim Al-Khereiji and Mr. Abdulaziz bin Abdul Karim Al-Khereiji, have an indirect interest. This is to provide maintenance services to customers’ vehicles for a period of one year without any preferential conditions noting that the transactions amounted 4,698,497 Saudi Riyals. 12.Approval on the business and contracts concluded for the fiscal year ending 31 December 2025 between the company and Al-Khwarizmi Actuarial Services Company, in which the members of the Board of Directors, Mr. Mohammed Al-Khereiji and Mr. Abdulaziz Al-Khereiji, have an indirect interest, which is to Insurance services for a period of one year without any preferential conditions noting that the transactions amounted 59,524 Saudi Riyals. 13.Approval on the business and contracts concluded for the fiscal year ending 31 December 2025 between the company and Taysers Reinsurance Brokerage Company, in which the members of the Board of Directors, Mr. Mohammed Al-Khereiji and Mr. Abdulaziz Al-Khereiji, have an indirect interest. These contracts are reinsurance transactions for a period of one year without any preferential terms, noting that the transactions amounted 8,848,510 Saudi Riyals. 14. Approval on the business and contracts concluded for the fiscal year ending 31 December 2025 between the company and Sahara Net Company, in which the members of the Board of Directors, Mr. Mohammed Al-Khereiji and Mr. Abdulaziz Al-Khereiji, have an indirect interest. These contracts are cyber services for a period of one year without any preferential terms, noting that the transactions amounted 113,457 Saudi Riyals 15. Approval on the business and contracts concluded for the fiscal year ending 31 December 2025 between the company and El-Khereiji Trading and Electronics company, in which the members of the Board of Directors, Mr. Mohammed Al-Khereiji and Mr. Abdulaziz Al-Khereiji, have an indirect interest. These contracts are electronic purchases for a period of one year without any preferential conditions, noting that the transactions amounted 69,650 Saudi Riyals. 16. Approval on the business and contracts concluded for the fiscal year ending 31 December between the company and Risk Solutions Corporation for Loss Adjusting and Survey, in which the members of the Board of Directors, Mr. Mohammed Al-Khereiji and Mr. Abdulaziz Al-Khereiji, have an indirect interest. These contracts are insurance contracts for a period of one year without any preferential conditions, noting that the transactions amounted 19,450 Saudi Riyals. 17. Approval on appointing the (auditor/s) for the Company from among the candidates based on the Audit Committee's recommendation. The appointed auditor/s shall examine, review and audit the (second, and third) quarter and annual financial statements, of the fiscal year 2026 AD., and the first quarter of the fiscal year 2027 AD. and the determination of the auditor's (s’) remunerations and they are: 1. PWC Saudi with fees amounting 1,135,000 SAR. 2. RSM Saudi with fees mounting 535,000 SAR" 18. Approval on paying an amount of (SAR 2,668,250 ) as remuneration to the Board members for the fiscal year ending on 31/12/2025AD. 19. Approval on the resolution of board proposals relating to non-distribution of dividends for the year ended 31 Dec 2025 AD. |
| Additional Information | If there are any inquiries please contact Investor Relations at: Tel: 0138047662 E-mail : Compliance.ksa@chubb.com.sa |
CHUBB Arabia Cooperative Insurance Co. Announces the Results of the Ordinary General Assembly Meeting (First Meeting)
AI Summary
- Chubb Arabia’s General Assembly approved the board’s proposal to not distribute dividends for the fiscal year ending December 31, 2025.
- Shareholders ratified multiple related-party transactions for FY 2025, including SAR 58.78 million in reinsurance contracts with Chubb Group and SAR 4.7 million for vehicle maintenance services.
- PWC Saudi and RSM Saudi were appointed as company auditors for the 2026 fiscal year and Q1 2027, with respective fees of SAR 1,135,000 and SAR 535,000.
- The assembly approved a total of SAR 2,668,250 in remuneration for Board members for the 2025 fiscal year.
