Monday 23, July 2018 by Kudakwashe

SAMA renews Al Alamiya’s insurance licence

 

The renewal comes into effect as of 6 September, 2018.

  

Al Alamiya Insurance Company has announced that the Saudi Arabia Monetary Authority (SAMA) has renewed its insurance and reinsurance for the next three years.

In a statement to Tadawal, Al Alamiya, said that the licence allows it to provide general insurance, medical insurance as well as savings insurance.

This follows SAMA’s issuance of a final warning to Al Alamiya Cooperative Insurance to deal with the weak performance of its internal auditing and ineffective corporate governance last week.

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