SAMA gives final warning to Tawuniya on claim settlement

19/02/2018 Argaam

 

The Saudi Arabian Monetary Authority (SAMA), the Kingdom’s central bank and insurance market regulator, lifted on Feb. 18 its final warning issued to The Company for Cooperative Insurance (Tawuniya) to settle all claims and customer complaints.

 

SAMA said potential legal procedures could be taken against the insurer, including preventing or limiting the company from accepting new subscribers or investors, the insurer said in a bourse statement. 

 

Tawuniya will take the necessary measures to comply with the insurance market regulator’s instructions, the statement added.

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