Sanad Insurance responds to SAMA’s final notice

14/07/2014 Argaam

Sanad Cooperative Insurance Company responded to all points included in the Saudi Arabian Monetary Agency (SAMA)’s final notice. The response will be published later after being approved by concerned authorities; the company said in its filing to Tadawul today.

According to Argaam’s data; Sanad Cooperative Insurance received a ‘final notice’ from SAMA in June prompting the company to provide a detailed plan for restructuring the company and improve its solvency margin as well as other procedures.

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