Wafa Insurance appoints 2 board members, head of audit committee

Shareholders of Saudi Indian Company for Cooperative Insurance (Wafa Insurance) approved a board resolution to appoint Abdulwahab Ahmed Abed as an independent board member starting from Oct. 18, 2020, until the end of the board term on Jan. 18, 2023, succeeding former member Abdulrahman Issa Alomayem (independent member).

During the ordinary general assembly meeting (OGM) held on April 26, 2021, shareholders also approved a board resolution to appoint Hassan Mohamed Al-Amri as an independent board member starting from Oct. 18, 2020, until the end of the current term, succeeding former member Haytham Mohamed Yousef (independent member).

Meanwhile, they approved appointing Abdulwahab Ahmed Abed as head of audit committee, starting from the date of the assembly until the end of the committee’s current term, replacing the former committee head, Abdulrahman Issa Alomayem.

They also approved amending the remuneration policy for the board of directors and its committees, as well as disbursing an amount of SAR 1.1 million as a reward to the board members for 2020.