AXA shareholders approve rebrand to Gulf Insurance Group

14/06/2022 Argaam

Logo of AXA Cooperative Insurance Co.

AXA Cooperative Insurance Co.’s shareholders approved rebranding to Gulf Insurance Group (GIG), during the extraordinary general meeting (EGM) held on June 13, according to a bourse filing.

 

Shareholders also approved the other agenda items, including amending some articles of association.

 

In Sept. 2021, the Saudi insurer announced that AXA Mediterranean Holding S.A. (AXA Med) completed the sale of its 18% stake in AXA Cooperative to AXA Insurance B.S.C (AXA Gulf), at SAR 24.23 per share, according to Argaam.

 

GIG owns 50% of the Saudi insurer.

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