Al Sagr Cooperative Insurance Co. Announces Calling Candidature for Board Members Elections

Alsagr Cooperative Insurance Company announced on Tuesday to its shareholders that nomination to the Board of Directors of the Company for the terstartingng from 16/06/2023 till 15/06/2026, for three years thereafter has commenced. Applicants must send their nomination notification in accordance with the Company’s Nomination and Appointment Policy (as attached), The requirements for Appointments for Senior Positions in Financial Institutions Supervised by Saudi Central Bank (SAMA) the Corporate Governance Regulations as issued by SAMA and the Capital Market Authority (CMA).

Candidate Conditions

Submitting the complete application during the specified nomination period addressed to the Nominations and Remunerations Committee.

Fulfilling the standards mentioned in the policies related to membership of the Board of Directors.

Completely fill out the fit&proper form issued by the Central Bank of Saudi Arabia and provide the company within the nomination application with a complete and signed copy in (PDF) format and an electronic copy in (Word) format identical to the signed copy. The candidate can obtain the form (fit&proper form) from the website of the Saudi Arabian Monetary Agency.

Completely fill out Form No. (3) of the Capital Market Authority and provide the company within the nomination application with a complete and signed copy in PDF format and an electronic copy in Word format identical to the signed copy, and the candidate can obtain the form (Form “3” CV of the candidate Membership of the Board of Directors of a joint-stock company listed on the Saudi Stock Exchange “Tadawul”) from the website of the Capital Market Authority via the link: https://cma.org.sa/RulesRegulations/FormsSite/Pages/default.aspx

Completely fill out Form No. (1) of the CV and provide the company within the nomination application with a complete and signed copy in PDF format and an electronic copy in Word format identical to the signed copy.

Completely fill out the company’s nomination form (attached) and sign each page.

The candidate’s resume, qualifications and experience in general and in the field of insurance in particular should be attached to the application, along with copies of certificates, qualifications and experience.

A statement of the candidate’s membership in the last term of the Board of Directors or the company’s subcommittees, and the membership in which the candidate previously held membership in the Board of Directors or one of the committees of the Board of Directors of other companies, with an indication of the legal form.

Anyone who occupies the same position in a liquidated company or was dismissed from the same position in another company may not be nominated for membership of the Board of Directors, except with the prior written approval of the Central Bank of Saudi Arabia.

A clear copy of the national identity card for individuals, the commercial register for companies and institutions, and the candidate’s contact numbers should be attached to the nomination application.

The nomination application shall be submitted in full within the period specified for nomination through the following means:

1. Email: SH.relation@alsagr.com
2. Address: 5245 King Khalid Street, Prince Muhammad bin Saud District, Dammam 32240-8113, Kingdom of Saudi Arabia.
3. The company’s headquarters located in the first floor of Abdul Rahman Al-Turki Tower, during official working days and hours (from Sunday to Thursday from 8:00 am to 4:00 pm), with an electronic copy of all application documents provided at the company’s headquarters to be sent to Email: SH.relation@alsagr.com