Al Alamiya names Tariq Al Naeem as Chairman, Abdulaziz Al Balushi Vice Chair

Logo of Al Alamiya for Cooperative Insurance Co.

Al Alamiya for Cooperative Insurance Co.’s board of directors approved, on June 15, appointing Tariq Al Naeem (an independent member) as Chairman and Abdulaziz Al Balushi (a non-executive) as Vice Chairman.

Both officials are appointed for the current three-year board term, which runs from Nov. 16, 2021, to Nov. 15, 2024. The appointments were approved by the Saudi Central Bank (SAMA) on July 17, Al Alamiya said in a Tadawul statement.

Al Naeem held several executive positions in the financial, investment, banking, and insurance sectors. He has also served on the boards of many companies. Since November 2021, he has served as Vice Chairman of Al Alamiya.

Al Balushi has more than 36 years of experience, during which he held many leadership positions in the financial sector in Oman and the Gulf region. He served as a member of the boards of directors and audit committees of many companies.

Al Balushi is currently the Group CEO of Oman International Development and Investment Co. (OMNIVEST). He has been on Al Alamiya’s board since September 2022.

The company’s board accepted the resignation of Abdulaziz bin Abdulmohsin as Chairman, effective Feb. 28, 2023. Abdulmohsin was appointed as a board member of the Capital Market Authority under a royal decree.