Riyadh – Mubasher: Saudi Arabia’s Council of Cooperative Health Insurance (CCHI) suspended Solidarity Saudi Takaful as of Monday for violating regulations.

The suspension was due to breaches in selling the CCHI policies and violations of the executive regulations, CCHI’s chairman, Tawfiq Bin Fawzan Al Rabiah, said in a statement on Monday.

The insurance company will be suspended from issuing any health insurance policies as of 20 March.

On Sunday, the Saudi Stock Exchange (Tadawul) removed the accumulated losses flag mark from the exchange website after the company decreased its accumulated losses below 50%.