premargin

Element List	Explanation
Introduction	Allied Cooperative Insurance Group announces that its accumulated losses have reached 51.97% of its capital, based on the preliminary financial results ending on 31-03-2026.
Date of Realization of the Loss	2026-03-31 Corresponding to 1447-10-12
Date of Notifying the Board of Directors with the Accumulated Loss	2026-05-04 Corresponding to 1447-11-17
Amount of the Accumulated Losses	Saudi Riyal 151,241 thousand
Percentage of the Accumulated Losses out of the Capital (%)	51.97 %
Major Reasons Leading to the Losses	The primary reason for the increase in accumulated losses is due to technical and operational factors, most notably: 1. The rise in net claims incurred in some insurance branches, particularly motor insurance. 2. The increase in technical provisions according to regulatory and actuarial requirements, which affected the results of the current period. 3. The rise in operating expenses due to the development of technical systems and the enhancement of digital infrastructure efficiency.
Measures to be Taken by the Company in Regard to Such Losses	The company is currently working on implementing a comprehensive plan to address the financial situation and enhance solvency margins through: Reviewing pricing policies and technical risks in collaboration with the actuarial department Expanding balanced-performance products and diversifying the insurance portfolio Raising the efficiency of claims management and enhancing digital transformation to improve service levels and cost control The management confirms that it continues to implement the approved corrective measures, ensuring compliance with regulatory requirements and achieving financial sustainability in the upcoming periods
Last day for board of directors to publish the recommendation for the Accumulated Losses	03-07-2026
Last day for board of directors to publish the EGM invitation to consider the company’s continuation	31-10-2026
Application of the Procedures and Instructions	Procedures and Instructions Applicable on Companies Listed in Saudi Capital Market Whose Accumulated Losses Reach 20% or more out of the Capital Thereof will be Applied
Reference to additional procedures or instructions	The company's management is committed to the required procedures, regulations, and relevant rules concerning companies whose losses have exceeded 50% of their capital in terms of disclosure and safeguarding the rights and interests of shareholders.
Additional Information	The above-mentioned dates are specified in accordance with the provisions of Article 132 of the Companies Law, which states that "If the losses of a joint-stock company reach half of the issued capital, the board of directors must disclose this and its recommendations regarding these losses within sixty (60) days from the date it becomes aware of them, and call for an extraordinary general assembly meeting within one hundred eighty (180) days from the date of such awareness to consider the continuation of the company, taking any necessary measures to address these losses, or to dissolve it.

Allied Cooperative Insurance Group Announces its accumulated loses reaching 51.97 % of its capital