Insurance Authority OKs ACIG’s capital hike via SAR 209M rights issue

08/01/2024 Argaam

Insurance Authority OKs ACIG’s capital hike via SAR 209M rights issue

Logo of Allied Cooperative Insurance Group (ACIG) 

Allied Cooperative Insurance Group (ACIG) received on Sunday, Jan. 7, the approval of the Insurance Authority (IA) to increase the company's capital by SAR 209 million to SAR 500 million through a rights issue.

 

ACIG's board of directors had previously recommended the capital increase to support the company's expansion and improve its solvency margin.

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