CHUBB Insurance receives certification of Sharia compliance

CHUBB announces that its Sharia Advisor, namely, Shariyah Review Bureau (“SRB”) and its appointed Sharia Committee (“SC”) has reviewed the activities of CHUBB in light of specifications of Sharia, as adopted and interpreted by the SC (the “Sharia Guidelines”). CHUBB hereby confirms its compliance to the Sharia Guidelines as of Sunday 17/07/2022 corresponding to 18/12/1443.

The key activities which were reviewed and certified are:

1. Separation of Accounts for both Shareholder & Policyholder pools.
2. Investments made by Shareholder & Policyholders pools.
3. Insurance policies.

Investors are advised that the purification amount per share for the Company is 0.021 Saudi Riyal.

The SC will work with SRB to continue leading the ongoing supervision and monitoring of CHUBB with regards to the above mentioned activities and related processes from a Sharia perspective. It will also administrate the annual Sharia audit in accordance with the AAOIFI-GSIFI No. 2.