CHUBB Arabia shareholders approve board’s proposal to drop 2021 dividend

Logo of CHUBB Arabia Cooperative Insurance Co. 

CHUBB Arabia Cooperative Insurance Co.’s shareholders approved, on May 31, the board’s recommendation to withhold dividend for 2021, according to a bourse filing.  

They also ratified the reinsurance transactions worth SAR 45.7 million with the member companies of the Chubb Group, including Chubb INA International Holdings Ltd., which is represented by three board members, Stephen Brian Dixon, Serge Michel Osouf and Giles Richard Ward. The transactions included no preferential terms.  

Shareholders further approved the business contracts signed between the company and other entities, the statement added.