Arabia Insurance announces opening of nomination for membership in BOD

Arabia Insurance Cooperative Co announced on Monday the start of the nomination period for the electing of a new Board of Directors, for a new term of three years, which term will start from 27th Feb 2023, in accordance with the Companies Law and The Cooperative Insurance Companies Control Law, and Corporate Governance regulations and the relevant regulations for appointment to leadership positions in financial institutions of Saudi Central Bank, and to the Corporate Governance regulations for Capital Market Authority in addition to the Policies, Criteria and Procedures of the company for membership in the Board of Directors approved by the General Assembly.
The Nominations and Remunerations Committee will study the completed nomination requests submitted during the specified period in light of the set standards and relevant regulations and make recommendations thereon in order to obtain the necessary regulatory approvals in preparation for the election of a new board of directors by the General Assembly whose date will be announced at a later time.