25 May 2025
The
Insurance Authority announces the issuance of final decisions to revoke the
licenses of several companies, in accordance with the provisions of the
Cooperative Insurance Companies Control Law and the relevant implementing
decisions and based on the Authority’s duties and powers under its mandate.
This step is a continuation of the corrective measures announced on 28\08\2024,
in line with the Authority’s objectives to support and enhance the sector’s
efficiency and stability, strengthen stakeholder confidence, and contribute to
protecting policyholders and beneficiaries, ultimately supporting overall
financial stability.
The
names of the companies are as follows:
·
Shire Insurance Agency Company – License
No. (و ك ل/ش/14/200910), dated 21/10/1430H
·
Al-Balurat Insurance Brokers Services
Company – License No. (و س ط/ش/92/20169),
dated 07/04/1429H
·
Al-Sabil Asia Insurance and Reinsurance
Brokers Company – License No. (و س ط/ش/83/20158),
dated 16/11/1436H
·
Al Aman Insurance & Reinsurance Brokers
Company – License No. (و س ط/ش/15/20084),
dated 08/04/1429H
·
Future Vision Insurance and Reinsurance
Brokers Co. Ltd. – License No. (و س ط/ش/78/20145),
dated 02/07/1435H
·
Al-Aman Gate Insurance Agency Company –
License No. (و ك ل/ش/38/201112), dated 03/02/1433H
·
Laval Insurance Brokers Company – License
No. (و س ط/ش/88/20163), dated 21/06/1437H
·
Saudi Ahed Insurance Agency Company –
License No. (و ك ل/ش/39/20121), dated 28/02/1433H
·
Saudi Link Insurance Brokers Company –
License No. (و س ط/ش/21/20086), dated 20/06/1429H
·
Fursan Insurance Agency Co. Ltd. – License
No. (و ك ل/ش/41/20121), dated 08/03/1433H
·
Saudi Agents Company, Insurance Agents –
License No. (و ك ل/ش/59/201207), dated 19/08/1433H
·
Insurance Management Company, Insurance
Agency – License No. (و ك ل/ش/80/20143),
dated 09/05/1435H
·
Saudi Shield Insurance Agency Ltd. –
License No. (و ك ل/ش/88/20153), dated 06/06/1436H
·
Panorama Elite Insurance Agency Company –
License No. (و ك ل/ش/64/20128), dated 17/09/1433H
·
Takaful Amanah Insurance Agency Co. Ltd. –
License No. (و ك ل/ش/84/201411), dated 26/01/1436H
·
Madad Al-Thiqa Insurance Agency Company –
License No. (و ك ل/ش/24/20111), dated 21/02/1432H
·
Manar Sigma for
Insurance Consulting and Actuarial Services Company – License No. (أ ك ت/ش/1/20084), dated 16/04/1429H
·
Theatel Insurance Agency – License No. (و ك ل/ش/28/20114), dated 09/05/1432H
·
Claims & Risks Services Co. Ltd. –
License No. (ت س م/ش/5/201010), dated 26/10/1431H
·
Al Tazeezat For Insurance Agency Company –
License No. (و ك ل/ش/34/201111), dated 02/01/1433H
·
Addison Bradley Arabian Company – License
No. (و س ط/ش/40/200910), dated 24/10/1430H
·
Wasl Insurance Agency Company – License No.
(و س ط/ش/26/20088), dated 30/08/1429H
·
MediVisa for Medical Claims Settlement
Company – License No. (ت س م/ش/6/201011),
dated 01/12/1431H
·
Saudi March Insurance Consulting Co. Ltd. –
License No. (م س ش/ش/4/20085), dated 20/05/1429H
·
Integrated Protection Insurance Agency
Company – License No. (و ك ل/ش/72/20131),
dated 02/03/1434H
·
Roaa Insurance Agency Company – License No.
(و ك ل/ش/62/20127), dated 26/08/1433H
·
Taqdeer International Insurance Agents
Company – License No. (و ك ل/ ش/99/201902),
dated 22/06/1440H
·
Risk Solutions Insurance Brokers Company (formerly
Altayyar Insurance Brokerage Company) – License No. (و
س ط/ش/35/20092), dated 04/03/1430H
The
Authority emphasizes the importance of engaging only with licensed companies in
accordance with the applicable regulations and encourages stakeholders to stay
informed about periodic updates in this regard. It also reaffirms its
commitment to continuing all necessary legal measures, as deemed appropriate,
to protect the sector and its stakeholders.