Orient Insurance intends to open branches in Saudi Arabia
Monday, 02 17 2020, Category: Insurance and Reinsurance, Country: Saudi Arabia
Orient Insurance has obtained approval from the Saudi Arabian Monetary Agency (Sama) to open branches in Saudi Arabia in the coming period.
The company is ending – for the time being – the licensing process, with expectations for the start of business in 2020, according to a press release.
The company added that Sama approved the approval of the appointment of Saran Manea Abu Saq as the CEO of Orient Insurance Company in Saudi Arabia.
In September of 2019, Orient Insurance Company said that it obtained preliminary approval from the Saudi Arabian Monetary Agency (SAMA) to expand in the Kingdom of Saudi Arabia during the coming period.
During the month of July last year, Orient Insurance Company stated that it submitted an application to the Saudi Arabian Monetary Agency to establish branches in the Kingdom of Saudi Arabia during the coming period.