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ACE receives product approvals from Saudi Arabia Monetary Authority
February 3, 2010
ACE Arabia Cooperative Insurance Company (AACIC) has announced that it has now received product approvals from the Saudi Arabia Monetary Authority (SAMA) for the majority of the product lines that it wishes to provide.
This follows the January announcement that ACE had received regulatory consent to conduct insurance operations in Saudi Arabia.
In view of this positive development, AACIC is pleased to announce that it commenced underwriting operations on 1 February 2009.
Sheikh Abdul Karim El Khereiji, Chairman of the Company, commented: "We are extremely pleased to be able to commence operations and look forward to a successful performance in 2010 and beyond."
Original Posting At: BusinessIntelligence
This follows the January announcement that ACE had received regulatory consent to conduct insurance operations in Saudi Arabia.
In view of this positive development, AACIC is pleased to announce that it commenced underwriting operations on 1 February 2009.
Sheikh Abdul Karim El Khereiji, Chairman of the Company, commented: "We are extremely pleased to be able to commence operations and look forward to a successful performance in 2010 and beyond."
Original Posting At: BusinessIntelligence
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