ACE enters the Saudi market

SAMA (Saudi Arabian Monetary Agency) has granted its approval to the insurer ACE Arabia to operate in Saudi Arabia. The company has been present on the market since 1973, in association with Elkheriji Group. In April 2009, ACE Arabia Cooperative Insurance Company got listed with a capital of 26.6 million USD, 40% of which is offered to the public. For ACE, the license obtained marks the last stage of the integration process on the market as a local player.