The Saudi Arabia Insurance Authority has issued final decisions revoking the licenses of 28 companies, covering insurance and reinsurance brokers, insurance agencies, claims settlement providers, consultants and actuarial service providers. The action was taken under the Cooperative Insurance Companies Control Law and related implementing decisions. The revocations continue corrective measures announced on Aug. 28, 2024. The authority advised stakeholders to engage only with licensed companies and to monitor its periodic licensing updates.

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