Prohibition of activity for nine Saudi brokers

The Saudi supervisory authority (SAMA) has ordered the business interruption of nine insurance brokers. This is the result of the non-compliance with the solvency requirements imposed by the regulation. These companies will no longer have the right to operate on the market.

Among the sanctioned societies, there are:Saudi Belgian Reinsurance Broking Company, Professional Practice Company for Insurance Brokerage, Global Insurance Broker, Rakaaz, Majdi Salem Alkadi Insurance Agents CO, Central Orchard Insurance Brokers (Middle East), Your Insurance Advisor Co.

More news:

• The Saudi Arabia insurance industry