Al Alamiya appoints Kamran Jaffery as CEO after Martin Rueegg resigns

Logo of Al Alamiya for Cooperative Insurance Co.

Al Alamiya for Cooperative Insurance Co.’s board of directors approved on March 27 the resignation of Martin Rueegg from his position as the Acting CEO, as his assignment period ended.

The resignation is effective the same day, the insurer said in a statement to Tadawul.

The board appointed Kamran Mazhar Jaffery as the new CEO, effective from March 28, after a no-objection from the Saudi Central Bank on Jan. 30.

Jaffery holds a Master's degree in Business Administration from HEC Paris, France, and a Bachelor's degree in Economics from the University of Texas in Austin, US. He has more than 21 years of expertise in the insurance sector and has held leadership positions in the industry, the statement noted.

Al Alamiya’s board appointed Rueegg as Acting CEO in addition to his duties as a board member, effective from Dec. 21, 2022,earlier reported.

In September 2022, the board accepted the resignation of CEO Khalid Jaafar Allagany, effective from Nov. 11, 2022.