The Saudi Arabian Monetary Authority (SAMA) announces the suspension of a number of liberal professions companies from practicing any insurance-related activity upon its request to terminate the activity, which is as follows:

1- The Saudi Link Insurance Brokerage Company.

2- The Saudi General Company for Insurance and Reinsurance Brokers.

3. The Saudi National Federation Agency for Insurance Services.

4. Itqan Company for Insurance Consulting.

5. Al-Amal Insurance Brokerage Company (formerly SAP Insurance Services Ltd.)

6. Claims and risks services company limited - Cars.

7. Al-Rowad Company for Insurance Agency.

This is based on SAMA's authority to supervise and control the activities of liberal professions companies based on Article (eighteen) of the Cooperative Insurance Companies Control Law issued by Royal Decree No. (M / 32) dated 6/2/1424 AH, noting that stopping these companies does not relieve their responsibility. Also, these companies must complete the necessary legal procedures to terminate the activity.

This announcement comes within the framework of the Saudi Arabian Monetary Authority's keenness to consolidate the stability of the insurance market and protect their rights of the insured and the beneficiaries