The Saudi Arabia Insurance Authority has suspended Takaful Emarat Insurance Services Company from conducting insurance brokerage activities, effective April 16, 2025, because of violations of supervisory and regulatory instructions. The suspension will remain in place until the company rectifies the violations and demonstrates full compliance with regulatory requirements. The company remains responsible for obligations relating to existing insurance policies and resulting claims and must ensure that policyholders’ rights and interests are protected. Customers with outstanding rights may complain to the authority if the company does not respond within three business days.
2025-04-16Saudi Arabia Insurance Authority
Saudi Arabia Insurance Authority suspends Takaful Emarat from insurance brokerage over regulatory violations
The Saudi Arabia Insurance Authority has suspended Takaful Emarat from insurance brokerage, effective April 16, 2025, over regulatory violations. The company must continue meeting obligations under existing policies and claims, and the suspension will remain until it rectifies the violations and demonstrates full compliance.