Alinma Tokio hires advisor to improve compliance

13/07/2017 Argaam

Alinma Tokio Marine Co. on Thursday appointed PricewaterhouseCoopers as advisor to study reasons behind the insurer’s failure to comply with some of the Saudi Arabian Monetary Authority’s (SAMA) rules and regulations.

 

The adviser was hired in line with SAMA’s instructions, specified in the central bank’s letter last month, the insurer said in a bourse statement.

 

SAMA also directed Alinma Tokio to present a corrective plan and implement it within 90 days from hiring the advisor.

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