ACIG names Yasser Al Jarallah as Chairman, Fayez Mahfouz as Vice Chairman

Logo of Allied Cooperative Insurance Group (ACIG)

Allied Cooperative Insurance Group’s (ACIG) board of directors, in its meeting held on June 6, appointed Yasser Al Jarallah as Chairman and Fayez Mahfouz as Vice Chairman for the three-year term started June 5, 2022, according to a bourse filing. 

Ali Al-Jaafari was named the Managing Director for the same three-year term, and his membership was converted into executive. 

The board of directors also approved the formation of the executive committee, the nominations and remuneration committee, the risk management committee and the investment committee. 

The executive committee was chaired by Fayez Mahfouz and included Ali Al-Jaafari as a member among others. The nominations and remuneration committee was headed by Abdulrahman Al-Amoudi.

These appointments are subject to the approval of the Saudi Central Bank (SAMA).