Al Sagr proposes lawsuit against 2 former board members

16/11/2025 Argaam
Logo ofAl Sagr Cooperative Insurance Co.

Logo of Al Sagr Cooperative Insurance Co.

Al Sagr Cooperative Insurance Co.’s board of directors recommended today, Nov. 16, filing a liability lawsuit against former chairman Saud Al-Areefi and former managing director Yasser Al-Harbi — both ex-board members.

 

In a statement on Tadawul, the company said the case concerns breaches of the approved authority regulations, involving direct or indirect executive powers during their tenure on the board and/or in the executive management.

 

The board will seek authorization from the general assembly to take the necessary legal measures.

 

Al Sagr emphasized it will act to protect shareholders’ rights, prevent any harm to shareholder interests, and reject any practices that violate regulations, noting that further updates will be duly announced.

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