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Introduction:-
Saba Yemen Insurance
Company was established by Ministerial Decree
No. 185 on 20/5/1990 and started accepting business by January 1st,
1991 with a paid up capital of YR. 10,000,000 during the following
years its insurance activities developed steadily as well as its
assets and Technical Reserves and in order to play major role in the
local market, the shareholders, pumped more capital over the years as
follows: In 1992 capital was increased to YR. 24,200,000,and to YR.
.25,000,000 in 1993,and to YR. 30,000,000 in 1994,and to YR.
50,000,000 in 1996, and to YR 130,000,000 in 1997,and to YR.
300,000,000 in 2001, and finally to YR. 400,000,000 in 2006 . The name of Saba’ refer to an ancient
Lands of Yemen Known as the kingdom of Sheba.
Main Shareholders:-
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Al-Rowaishan Est. for Universal Trading &
Agencies
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Al-Hadha Co. for Trading & General
Agencies
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Red Sea Flour Mills Co .Ltd
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Matloob Atif Al-Sharafi
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Al-Mahbashi Trading Co.
Management:-
-
Sheikh
Mohamed Bin Yahiah Al-Rowaishan- Chairman.
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Mohamed
Hussein Zawiyah – Managing Director.
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Ahmed S. Al-Faqih - Acting General Manager.
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Abdul Wefi Bakir - Financial Consultant.
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