AXA gets ‘final warning’ from SAMA to fix irregularities

22/04/2018 Argaam

 

AXA Cooperative Insurance Co. has received a final warning from the Saudi Arabian Monetary Authority (SAMA) regarding the delays caused by its technical system relating to claims and settlement procedures, the company said in a bourse statement.

 

SAMA, the Kingdom’s central bank and insurance market regulator, gave the insurer a 20-day notice to fix irregularities, or it could be banned from issuing or renewing policies.

 

AXA will take the necessary measures to meet regulatory requirements, the statement added.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read