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CMA approves share capital increase of two Saudi insurers

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Magazine Issue: 
Russia-Ukraine war, one big loser, the Lloyd’s of London [3]
Magazine date: 
May 2022

share capital increaseThe Capital Market Authority (CMA) in Saudi Arabia has approved the increase of the share capital of Amana Cooperative Insurance and Arabia Insurance Cooperative Company.

Both insurers will have a capital increase of 300 million SAR (79.9 million USD) and 265 million SAR (70.6 million USD) respectively.

Amana's share capital will thus reach 430 million SAR (114.505 million USD) while Arabia's capital will be set at 530 million SAR (141.134 million USD).

Read also | Minimum capital of insurance companies in Saudi Arabia [4]

Fri, 27/05/2022 - 11:30

Source URL: https://www.atlas-mag.net/en/article/cma-approves-share-capital-increase-of-two-saudi-insurers

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[3] https://www.atlas-mag.net/en/issue/atlas-magazine-n-191-may-2022
[4] https://www.atlas-mag.net/en/article/the-increase-in-minimum-capital-is-worrying-insurers