Riyadh – Mubasher: The board of Arabia Insurance Cooperative Company recently accepted the resignation of Abdulaziz Abdulhadi Al Qahtani from his position as a non-executive Chairman.

Al Qahtani stepped down from his position due to work engagements with a number of companies and investments inside and outside Saudi Arabia, according to a statement to the Saudi Exchange (Tadawul).

The resignation, which was submitted on 28 September 2023, became effective on 31 October this year.

It is worth noting that in the first nine months (9M) of 2023, Arabia Insurance reported net profits before Zakat of SAR 64.35 million against net losses in 9M-22, in addition to earnings per share (EPS) of SAR 0.97 and gross written premiums (GWP) of SAR 792.98 million.