Gulf General Cooperative Insurance Co. Requests CMA Approval for SAR 200 Million Capital Reduction

Gulf General Cooperative Insurance Co. has officially submitted a request to the Capital Market Authority (CMA) seeking approval to reduce its capital by SAR 200 million. The announcement was made to the shareholders on Wednesday, with the application file submitted on Tuesday, 28-11-2023.

The company has assured its shareholders that any future developments related to this matter will be promptly communicated in due course. This action follows the Board of Directors’ recommendation, as announced on 09-11-2023, regarding the proposed reduction of the company’s capital.