Riyadh – Mubasher: Solidarity Saudi Takaful fell 3.1% to SAR 20, exchanging 1.4 million shares at a value of SAR 28.77 million through 1,340 transactions, by 01:35pm KSA time.

Saudi Capital Market Authority (CMA) announced the suspension of trading Solidarity's shares starting from 11:00am until 01:00pm on Monday.

The suspension comes as per the company's request as it will announce a material development.

Saudi Arabia’s Council of Cooperative Health Insurance (CCHI) suspended the firm's stock 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.

Solidarity stated that its board will meet soon with the CCHI to discuss the subject and take the necessary procedures to avoid suspension.

Meanwhile, the main index of the Saudi Stock Exchange (Tadawul) shed 0.39% or 27 points to stand at 6,925.4 points.