Solidarity Saudi Takaful Co. plans to soon meet with Saudi Arabia’s Council of Cooperative Health Insurance (CCHI) to discuss the measures required for lifting the suspension of its health insurance policies, the insurer said in a statement to Tadawul.
CCHI suspended Solidarity from issuing health insurance policies from March 20 due to violations, the health insurance regulator said today.
Solidarity affirmed it was keen to abide by the laws and regulations.
According to Argaam, the Capital Market Authority (CMA) placed a trading halt on shares of Solidarity from 11:00 am to 1:00 pm local time earlier today upon the company’s request to announce a material development.
Before the suspension, Solidarity’s stock declined more than 1 percent at SAR 20.35.