ACIG shareholders approve board, audit reports for FY2019

Allied Cooperative Insurance Group’s (ACIG) shareholders approved the audited financial statements, as well as board and auditor reports for fiscal year ending Dec. 31, 2019, during its ordinary general meeting (OGM) held on June 9.

They also approved discharging board members from liability for FY2019, as well as appointing a new auditor for Q2, Q3, Q4, FY2020 and Q1 2021.

In addition, they endorsed the board remuneration of SAR 1.17 million for FY2019, in addition to ratifying business contracts signed with other entities in 2019, including Fuji Elevators and Escalators, Mayar Holding, Taya Real Estate Co., and Taya Feed Mil.

They further approved the appointment of Adel Mohammed as a non-executive board member and Abdullah Abdulrahman Al Rebdi as an independent board member as of March 17, 2020.