sD.mp4
Category
🗞
NewsTranscript
00:00 We are joined by Mr. Mater Lannizzi, the CEO of the financial sector at the Security Cooperation Company. Welcome, Mr. Mater. Thank you for being here. Let's start by talking about this SNP classification. What does it mean for the company and how will you benefit from it?
00:19 Welcome, Ms. Maysab. We are very proud of the SNP classification, from A- to A. This reflects the role of the security cooperation capacity to enhance its position as a pioneer in the security sector in the Kingdom of Saudi Arabia.
00:40 This is supported by its capital efficiency and strong profit margins as a result of the writing rates and its targeted investment activity in the next two years, as well as the good enough capital to be saved in the future.
00:57 The SNP classification is recognized by the Saudi Security Commission as a national leader in the Saudi security market. We are one of the largest regional security companies in the Middle East and North Africa.
01:12 This confirms the company's strength and ability to achieve exceptional results in achieving its vision and to be one of the largest security companies, God willing.
01:23 On the other hand, the classification reflects the trust of the clients, partners and contributors. We are proud of this achievement, which is the result of the joint efforts of the board of directors, the executive leadership, and the entire support team to achieve the strategic goals of the company.
01:47 This is a very important question, Mr. Matar, since you are working on an important strategy to increase growth rates. What are the rates that you are targeting so far in this strategy? And how much will we see an expansion of the client base compared to the base you have now?
02:04 We have achieved the A-class, which was part of our strategic plan. This is a major strategic reason for us to achieve the highest market value and market share possible.
02:25 Our current market share is 27% of the total security sector in the Kingdom. This is the largest market share currently. Our ambition is to reach a higher and higher market share and to be in a trend of increasing market share in the future.
02:54 As you know, the Kingdom has won the X-Boot. This is part of the strategic sectors that we are targeting in the security sector in the future.
03:06 The X-Boot will help us to enter the security sector, especially in the general security sector, which is the property and the accident sector. This is one of the most important strategies or requirements for entering this sector.
03:26 We are now the leader in the market and we will be more supportive in this area, which will increase our security reserve in the general sector, God willing.
03:36 When we talk about 27% as a market share today, Mr. Smater, is this share expanding? Is it requiring the entry of new products or is it just a strategic element that is being relied on?
03:53 Of course, it requires diversification in the security reserve that we are working on. There is the entry of new products and the addition of other products in the same sectors will greatly help us diversify our reserve and thus increase the market share.
04:13 This is a strategic element that we are working on, God willing, to achieve.
04:21 How much is the market share targeted, Mr. Smater? After 27%, are we seeing the growth rates that are occurring in each security sector, the cooperative sector, benefiting from it more to enter new products other than the health sector?
04:41 Yes, we are now targeting a large market share through the strategies that have been implemented, and also by diversifying the products and entering the business that has the chain of support in the insurance sector.
04:54 We are working on other strategies such as the ecosystem for the car sector and the mobility sector. We are also working on the chain of support in the general sector.
05:09 As we mentioned earlier, we are now a company that is working in the cooperative sectors of insurance companies, God willing, as a complete ecosystem.
05:23 Will there be an enhancement of the investment reserve, apart from diversifying the products, with this strategic plan?
05:32 Yes, of course, the goal of growth is to enhance the investment reserve and at the same time to expand in other markets in the future.
05:42 Can we know what the markets are, Mr. Smater?
05:46 We are now working on strategies to expand. At the moment, the Saudi Arabian market is still having a lot of opportunities in the Kingdom.
06:01 We are now working on a strategy to increase the investment reserve and to increase the investment reserve in the Saudi Arabian market.
06:20 This is a very big goal. At the moment, for the short and medium term, we will focus on the Saudi Arabian market, but there are plans to expand in the future.
06:35 You will see the light when this strategy is implemented. But in the short and medium term, we are targeting the Saudi Arabian market more.
06:44 Will the government contracts be more for the company, Mr. Smater? Or do you think there is a diversity between individual customers and government contracts?
06:54 Yes, there is a very diverse. Don't forget that we are in the insurance market, we are in a competition market, whether in the government sector as a customer or as a client.
07:06 There are competitions in the customer system, and we target all sectors, whether government or private, with competitive prices, God willing.
07:21 Thank you, Mr. Smater Al-Anezi, the CEO of the financial sector of the co-operative insurance company. Thank you for all these details.
07:29 You are welcome.