Riyadh – Mubasher: Gulf Union Alahlia Cooperative Insurance Company has received a nod from the Saudi Central Bank (SAMA) to transfer online insurance activities from Al Ahlia Cooperative Insurance to Gulf Union Alahlia.
The no-objection letter enables Gulf Union Alahlia to sell the products of medical malpractice, travelling, third party liability motor, and comprehensive motor insurance, according to a bourse filing on Monday.
Gulf Union Al Ahlia noted that the travel insurance product does not cover COVID-19 infection risks.
In December 2020, Al Ahlia Insurance concluded its merger with Gulf Union Cooperative Insurance, which resulted in the new entity Gulf Union Alahlia Cooperative Insurance.
