Riyadh – Mubasher: Amana Cooperative Insurance Company has named Abdullah Othman Almusa as the new Chairman of the board for the next three years.
The Tadawul-listed insurer also announced Tareq Abdullah Algaraawy as the Vice Chairman, according to a bourse disclosure.
Meanwhile, Almusa and Algaraawy assumed their roles for a new board term that started on 11 August 2022 and will remain in position until 10 August 2025.
Last month, Amana signed a non-binding memorandum of understanding (MoU) for a potential merger with Allied Cooperative Insurance Group (ACIG).
Amana registered lower accumulated losses of SAR 194.95 million at the end of the first half (H1) after it increased its capital by 230.70% to SAR 430 million from SAR 130 million through a rights issue.
