Chubb Arabia recommends dividend freeze for 2020

11/04/2021 Argaam

Chubb Arabia Cooperative Insurance Co.’s (Chubb Arabia) board of directors recommended today, April 11, 2021, withholding the distribution of cash dividend for 2020, according to a bourse filing.

 

The board said that the recommendation aims to support the future growth of business activities and preserve the solvency margin.

 

The board’s recommendation will be presented at the upcoming general assembly meeting for approval.

 

On March 24, 2021, Chubb Arabia’s board of directors recommended a 50% capital hike to SAR 300 million from SAR 200 million by capitalizing SAR 100 million from retained earnings account.

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