Riyadh – Mubasher: Mahmoud Salem Dahduli, the CEO of Al Rajhi Company for Cooperative Insurance (Alrajhi Takaful), resigned from his post on 21 February 2023 due to personal reasons.  

The board accepted Dahduli’s resignation, which became effective on 28 February, and appointed Saud Ghonaim Al Ghonaim as the company’s new CEO to be effective as of 1 March this year, according to a bourse disclosure.

Meanwhile, the Saudi Central Bank (SAMA) granted its approval for Al Ghonaim’s appointment on 27 February.

The new official holds a master's degree in Business Administration from the University of Akron in the US. He managed several leadership positions for over 23 years, including being the CEO of Emkan Finance Company.

Last January, Moody's Investors Service affirmed Alrajhi Takaful’s ‘A3’ insurance financial strength rating (IFSR), with a stable outlook.