Fatima Al-Kashef

The Saudi Arabian Cooperative Insurance Company (SAICO), listed on the Saudi Stock Exchange (Tadawul), has appointed Khalid Balou as acting CEO. Balou has been working at the company for about 16 years, according to a statement sent to the stock exchange on Thursday.

SAICO’s activity dates back to 1952. It is headquartered in Riyadh and was listed on Tadawul in 2007. It operates in the fields of general insurance, health insurance, protection and savings, and offers insurance products including vehicle, aviation, property, takaful and accident insurance.

During the first quarter of 2026, the company’s net profit declined by about 8% year-on-year, recording about 13.1 million riyals ($3.5 million).

About Khaled Balou

(According to the statement + his LinkedIn account)

- He obtained a Bachelor of Science in Administrative Sciences from King Saud University in Riyadh in 1998.

- He obtained a Master of Business Administration degree from the Arab Academy for Science, Technology and Maritime Transport in Egypt in 2008.

- He has over 27 years of experience in the insurance sector and has worked for SAICO since 2010.

- He worked as Vice President of Sales and Business Development at SAICO before being appointed as Acting Chief Executive Officer.

- Received a professional diploma in marketing from the Riyadh Chamber of Commerce and Industry in 2003, and a professional diploma (PIC) from the Chartered Insurance Institute (CII) - Bahrain Institute of Banking and Finance.

(Prepared by: Fatima Al-Kashef, Edited by: Shaimaa Hefzy, For inquiries : zawya.arabic@lseg.com )

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