SAMA Approves GGI License Renewal to Practice Insurance Activity

Gulf General Cooperative Insurance Company (GGI) announced on Wednesday that it has obtained the approval of the Saudi Central Bank (SAMA) to renew the license to practice insurance activity for the following: (General Insurance and Health Insurance).

It starts on 24/10/2021 and for a period of three years ending on 20/09/2024.

Gulf General Cooperative Insurance Company (GGI) was established with a capital of SR200 million as a joint stock company pursuant to Ministerial Decree No. 365 dated 1/12/2008 and under Royal Decree No. M / 85 dated 3/12/2008.

GGI ended its public offering on 9/10/2009. The General Assembly was held on 16/12/2009 and then obtained its Commercial Registration No. 4030196620 on 24/1/2010.

GGI commenced its operations with the acquisition of the insurance portfolio of Saudi General Insurance Company and Gulf Cooperative Insurance Company.