Saudi Indian Company for Cooperative Insurance’s (Wafa Insurance) extraordinary assembly meeting abstained from ratifying all work conducted by the board between July 13 and Dec. 18 of this year, the firm said in a statement on Tadawul.
In the same meeting, Wafa Insurance elected a new board of directors for a three-year term that ends on Dec. 17, 2019.
In addition, the insurance company has elected the members of the audit committee and approved members’ remuneration.
The new board shall hold another meeting at a date to be announced later, to select the chairman, vice chairman, and the members of the board subcommittees.
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