Riyadh — Mubasher: Malath Cooperative Insurance Company announced the appointment of Hamad Fahad Al Malik as an independent member of its board of directors.

The appointment became effective as of 29 July 2026, on which the company obtained a non-objection from the Insurance Authority.

The appointment follows the board's decision on 9 July 2026, according to a bourse filing.

Al Malik will occupy a vacant seat for the remainder of the current board term, which is scheduled to conclude on 16 June 2028.

He currently serves as the acting human resources director and talent acquisition director at a Public Investment Fund (PIF) company.

Al Malik has a professional background of leadership roles at the General Secretariat of the Council of Ministers, Diriyah Company, and the PIF, alongside a board membership at MoneyDO.

Malath Insurance noted that Al Malik holds a Bachelor of Science in Business Administration from Chapman University.

While the board approved the appointment to fill the vacancy, the decision remains subject to formal ratification by shareholders at the next General Assembly meeting (EGM).

In late June 2026, the company’s shareholders ratified financial statements and the appointment of external auditors. Meanwhile, the assembly rejected several key board proposals, including the annual remuneration for directors and the confirmation of a new board member.