Saudi Indian Company for Cooperative Insurance’s (Wafa Insurance) board of directors approved the appointment of Ayed Asri Mukbel Al Anzi as new CEO for six months effective today.
The decision was taken after receiving Saudi Arabian Monetary Authority’s (SAMA) approval on today, according to a bourse filing.
Al Anzi has been serving as Wafa Insurance’s legal affairs supervisor since 2013. He holds a bachelor’s degree in law from the University of Philadelphia in Jordan.
In a separate statement, the company reappointed Majid Ahmed Ibrahim Al-Suwaigh as chairman and Raad Nasser Saad Al Qahtani as vice-chairman for a 3-year term starting January 19, 2020, until January 18, 2023.
The company further explained it will later form a risk management committee, noting it is currently subjected to a financial reorganization procedure under the Saudi bankruptcy system.
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