ACIG Receives Letter from Insurance Authority Regarding Minimum Paid-Up Capital Requirements

Allied Cooperative Insurance Group (ACIG) announced on Tuesday that it received a letter from the Insurance Authority stating that the Company shall submit a corrective plan to the Authority outlining the steps it will take to comply with the minimum paid-up capital requirements for insurance companies within 10 working days from the date of the letter, which is the same date as the receipt of the said letter.

The Group clarified that the minimum paid-up capital for an insurance company is no less than SAR 300 million, following the announcement of the results of the Extraordinary General Assembly held on June 22, 2025, which included the rejection of the capital increase.