CHUBB Arabia shareholders approve amendments to bylaws

CHUBB Arabia Cooperative Insurance Co.’s shareholders approved amending the company’s bylaws in accordance with the new Companies Law, as well as rearranging and numbering the bylaw articles to comply with the proposed amendments.

The approval was given at the extraordinary general meeting (EGM) held on Jan. 16, according to a statement to Tadawul.

During the meeting, shareholders amended articles related to the incorporation, objectives, engagement and equity in companies, headquarters, investment, capital, shares subscription, shareholders register, purchase sale and mortgage of shares, capital increase and capital reduction.

This is in addition to other articles related to company management, termination of board membership, vacant board position, powers of the board, and powers of the Chairman, Vice Chairman, Managing Director and Secretary.