Saudi SAMA renews AICC insurance license

The license has been renewed in the fields of insurance, health insurance, and saving, for three years, according to the company’s statement

  
A Saudi trader observes the stock market on monitors at Falcom stock exchange agency in Riyadh, Saudi Arabia February 7, 2018.

A Saudi trader observes the stock market on monitors at Falcom stock exchange agency in Riyadh, Saudi Arabia February 7, 2018.

REUTERS/Faisal Al Nasser

Riyadh –  Arabia Insurance Cooperative Company (AICC) announced on Monday that it has received the Saudi Arabian Monetary Authority’s (SAMA) approval to renew its license.

The license has been renewed in the fields of insurance, health insurance, and saving, for three years, according to the company’s statement to the Saudi Stock Exchange (Tadawul).

Last month, AICC announced that the board of directors has approved the resignation of CEO Ammar Al Halawani, and appointed Ziad Al Rabeesh as his successor.

The new CEO assumed his role starting from the beginning of the month.

Source: Mubasher

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