Logo ofAl Sagr Cooperative Insurance Co.
Al Sagr Cooperative Insurance Co. received a letter from a shareholder owning more than 10% of the company’s capital, requesting to convene a general assembly meeting to vote on the dismissal of two board members. 
Accordingly, the company will take the necessary regulatory procedures in accordance with the applicable laws and regulations and will announce further details in due course, according to a filing to Tadawul.
Last week, the Insurance Authority (IA) decided to suspend Al Sagr Insurance’s right to sell the mandatory motor insurance product, for violating the supervisory and regulatory rules and amid the board of directors’ failure to adopt effective governance procedures.
Independent board member Saleh Alderaan submitted his resignation on weak implementation of effective governance practices, according to data available with Argaam.
Logo ofAl Sagr Cooperative Insurance Co.
Al Sagr Cooperative Insurance Co. received a letter from a shareholder owning more than 10% of the company’s capital, requesting to convene a general assembly meeting to vote on the dismissal of two board members.
Accordingly, the company will take the necessary regulatory procedures in accordance with the applicable laws and regulations and will announce further details in due course, according to a filing to Tadawul.
Last week, the Insurance Authority (IA) decided to suspend Al Sagr Insurance’s right to sell the mandatory motor insurance product, for violating the supervisory and regulatory rules and amid the board of directors’ failure to adopt effective governance procedures.
Independent board member Saleh Alderaan submitted his resignation on weak implementation of effective governance practices, according to data available with Argaam.
