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.