Al Alamiya’s shareholders approve updated board rules

Al Alamiya for Cooperative Insurance Co.’s general assembly approved on Thursday updated corporate governance regulations, including rules for various board committees and amended policies and standards for the board of directors.

Shareholders also approved the updated remuneration policy for board members and executives, the insurer said in a bourse statement.

In addition, the general assembly named Saleh Al Shanifi as an independent board member and chairman of the audit committee, replacing Abdulaziz AlHabib, who has resigned from the committee.