Further to SAMA's announcement on 28/11/2016 (28/2/1438H.) that it was suspending Malath Cooperative Insurance and Reinsurance Company (Malath) from accepting new subscribers to motor insurance and consequently from issuing any new motor insurance policies with effect on 29/11/2016 (29/2/1438H.), SAMA announces that it is allowing Malath to resume accepting new subscribers and thus to resume issuing new motor insurance policies starting from 11/1/2017 (13/4/1438H.).
The decision to allow the Malath to accept new business is a result of the Company having addressed the non-compliance issues that led to the suspension and to the Company's enhancement of the systems supporting its claims settlement and customer complaints resolution activities.
