Riyadh – Mubasher: Gulf Union Al Ahlia Cooperative Insurance Company has appointed Abdulaziz Ali Al Turki as the new Chairman of the board for the coming three years.

The Saudi firm also announced Zaid Abdullah Al Yaeesh as the Vice Chairman, according to a bourse disclosure.

Meanwhile, the two officials assumed their roles for a new board term that began on 17 December 2022 and will remain in position until 16 December 2025.

It is worth noting that the Saudi Central Bank (SAMA) granted its approval for the key appointments on 19 January 2023.

Last year, Gulf Union and Al Sagr Cooperative Insurance Company signed a non-binding memorandum of understanding (MoU) to discuss a potential merger.