Allianz SF: capital increase to 600 million SAR

Allianz Saudi Fransi Cooperative Insurance Company (Allianz SF) increased its capital from 200 million SAR (53.27 million USD) to 600 million SAR (159.82 million USD).

This will result in the issuance of 40 million shares with a nominal value of 10 SAR (2.66 USD). The decision was approved by the Extraordinary General Meeting (EGM) held on 16 June 2020.

The purpose of the operation is to meet the solvency margin requirements of the supervisory authority (SAMA).