Riyadh - Mubasher: MetLife, American International Group (AIG) and Arab National Bank Cooperative Insurance Company (ANB) has appointed the Saudi Kuwaiti Finance House as the financial advisor for its capital reduction.

The MetLife recently obtained the approval of the Saudi Arabian Monetary Authority (SAMA) to cut its capital from SAR 350 million, by SAR 170 million.

The company’s capital will then stand at SAR 180 million, as recommended by the board of directors to the general assembly.