Allianz SF opens board membership nominations today

Allianz Saudi Fransi Cooperative Insurance Co. (Allianz SF) opened today, March 1, the nomination process for board of directors’ membership for the upcoming three-year session, starting Aug. 8, 2022.

Nominations start today and end on March 31, 2022, the firm said in a statement to Tadawul.

The nomination will be in accordance with the Companies Law issued by the Ministry of Commerce, pursuant to regulatory conditions, controls and requirements, in addition to the applicable laws on recruiting board members, as per the bylaw of insurance companies governance issued by Saudi Central Bank (SAMA) and the instructions issued for the requirements of leading position recruitment, and as per the bylaw of the companies governance and the regulations of registration and insertion issued from the Capital Market Authority (CMA).

The nominated members will be elected during the next general assembly, the date for which will be announced later, after obtaining necessary approvals from the competent authorities.