Gulf General receives IA letter on decline of solvency margin

20/03/2025 Argaam
Logos of Gulf General Cooperative Insurance Co. (GGI)

Logos of Gulf General Cooperative Insurance Co. (GGI)

Gulf General Cooperative Insurance Co. received today, March 20, a letter from the Insurance Authority (IA), regarding the decline of the solvency margin below the minimum required regulatory margin.

 

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The letter noted that Gulf General must comply with the regulations, and provide the authority with the updates and corrective steps the company will take to improve its financial solvency, within three working days, the insurer said in a statement to Tadawul.

 

Gulf General said it will submit to the IA, within deadline, the appropriate measures to maintain the required solvency margin, the statement added.

 

Any developments in this regard will be disclosed in due course.

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