Allianz agrees to amend 35 articles related to bylaws

The Board of Directors of Allianz Saudi Fransi Cooperative Insurance Company announced on Wednesday the results of the Extraordinary General Assembly meeting (the First meeting), which was held after the quorum for the meeting was completed at 66.37% of the shares represented in the company capital.

The company explained that the Assembly agreed to amend 35 articles related to the bylaws, including amending the remuneration policy for members of the Board of Directors and the committees emanating from it, and the powers of the Chairman of the Board of Directors and the duration of his membership and the membership of his deputy, managing director, and secretary.

It also agreed to amend the powers of the Board of Directors, the bylaws related to the company, and the bylaws related to the head office.