Rules Governing Insurance Aggregation Activities

Release Date:	1441-06-25
Release Tool:	Councils and commissions decisions
Issuance Instrument Number:	4/441
Validity:	Valid
Date of last amendment:	1442-04-11
Summary:	By AI The Saudi Arabian Monetary Authority issued the Electronic Insurance Mediation Rules by virtue of the Governor's Decision No. (4/441) dated 25/06/1441 H, based on the Cooperative Insurance Companies Control Law. The rules include basic definitions and allow for mediation through electronic means, requiring the submission of a license application that includes a detailed business plan. Companies must be licensed in Saudi Arabia, with a capital of no less than 500,000 Saudi Riyals for the electron...

Release Date:

1441-06-25

Release Tool:

Councils and commissions decisions

Issuance Instrument Number:

4/441

Validity:

Valid

Date of last amendment:

1442-04-11

Summary:

By AI

The Saudi Arabian Monetary Authority issued the Electronic Insurance Mediation Rules by virtue of the Governor's Decision No. (4/441) dated 25/06/1441 H, based on the Cooperative Insurance Companies Control Law. The rules include basic definitions and allow for mediation through electronic means, requiring the submission of a license application that includes a detailed business plan. Companies must be licensed in Saudi Arabia, with a capital of no less than 500,000 Saudi Riyals for the electron...