Company Profile

The company's underwriting activity in the Kingdom of Saudi Arabia dates back to 1964 when Saudi Arabian Insurance Company Ltd. BSC (C) associate Al Nisr Insurance Company SAL started operating in KSA. Ever since its establishment in 1980, SAICO BSC (C) has been operating in the Kingdom of Saudi Arabia through a general agent before it became a founding shareholders in Saudi Arabian Cooperative Insurance Company . The company has a network of operations across the Middle East region including Bahrain, Abu Dhabi, Dubai, Lebanon, Oman and Kuwait.
 
  • 1964 – Al Nisr SAL founded in Lebanon  - C.R. 14981, Established Under Presidential Decree No. 600 dated December 18, 1964 in Lebanon with a Paid Up Capital L.L. 4,000,000,000
  • 1980 – SAICO BSC founded in Bahrain - C.R. 10316, Has been registered/renewed in accordance with Decree(1) Finance the year 1961 as amended by Decree No. 34/1976 and Decree No. 12/1978 and accordance with Commercial Companies Law No: 21/2001 and its amendments to practice Insurance and Re-insurance activities. In 2010 the Issued and Paid up Capital of of SAICO BSC had been increased to BHD 20,000,000.
  • 1982 – SAICO BSC establishes a branch in Dubai
  • 1989 – SAICO BSC establishes a branch in Abu Dhabi
  • 1996 – Al Nisr Establishes a branch in Bahrain
  • 2001 – SAICO BSC establishes a branch in Kuwait
  • 2007 – Saudi Arabian Cooperative  Insurance Company established
  • 2008 – SAICO BSC establishes a branch in Oman
  • 2010 – Al Nisr SAL becomes Saudi Arabian Insurance Company B.S.C (c) SAL
     
  • 2010 – SAICO BSC takes over portfolios of Al Nisr Oman and Al Nisr Bahrain
  • 2013 – SAICO BSC establishes a second branch in Bahrain