Gulf Union Cooperative Insurance Co. plans soon to meet with Saudi Arabia’s Council of Cooperative Health Insurance (CCHI) and discuss measures required for lifting the suspension on its health insurance policies, the insurer said in a statement to Tadawul Sunday.
The company will also submit a restructuring plan to CCHI to fix irregularities.
Gulf Union added that it expects the suspension to weigh on its sales as of June 8. However, the suspension would not impact the interest of policyholders.
The Kingdom’s health minister Tawfiq Al Rabiah approved the decision by CCHI to suspend Gulf Union from issuing health insurance policies as of June 8.
Comments
{{DisplayName}}
{{ElapsedTime}}