Metlife AIG ANB authorized to practice

The Saudi Arabian Monetary Authority (SAMA) gave its approval to Metlife AIG ANB Cooperative Insurance Company to carry on the business of insurance in Saudi territory.

Metlife AIG ANB has a share capital of 46.66 million USD. Its main shareholders are American Life Insurance Company (30%), Arab National Bank (29.94%) and Chartis Memsa Holdings (10%).

The new company should benefit in its beginnings of the distribution network and the customer base of ANB.