Saudi Enaya Cooperative Insurance has secured approval from the Capital Market Authority (CMA) to increase its capital by SAR150 million ($40 million) through a rights issue. This move will raise the company’s total issued capital to SAR380 million. Meanwhile, United Cooperative Assurance (UCA) has opted to cancel its previously recommended capital increase of SAR300 million, intending to revisit capital adjustments at a later date. Similarly, Gulf General Cooperative Insurance has decided to withdraw its capital increase proposal of SAR300 million to focus on a merger with Gulf Union Cooperative Insurance Company.
