Riyadh – Mubasher: Al Etihad Cooperative Insurance Company has appointed Hashim Osama Al Nabulsi as an independent member of the company’s audit committee.

The board of directors initially issued the appointment decision on 15 July 2026 pending necessary regulatory clearances.

The company confirmed it received a non-objection letter from the Insurance Authority regarding the appointment on 16 August. Al Nabulsi’s membership officially commenced on the same date.

Al Nabulsi brings extensive professional experience to the committee, with over 20 years in the fields of investment, real estate development, finance, and governance. He holds a bachelor’s degree in industrial engineering and a master’s degree in finance.

The appointment is part of the company's efforts to strengthen its oversight functions and ensure compliance with corporate governance standards in the Saudi insurance sector.

At the end of June 2026, the insurance company reported net losses valued at SAR 92.19 million, higher by 21.93% year-on-year (YoY) than SAR 75.61 million.