send to a friend by email

Ahliea Insurance Group reduces some of its insurance activity branches in Gaza

2012-10-08

Ahliea Insurance Group AIG decided to temporary halt the activity of some of its branches that provide insurance services in Gaza Strip; therefore stopping the issuance of vehicle insurance documents and other general insurance until the revision of the underwriting policies that were set by the senior management in its head office in Ramallah city is implemented. This decision came after noticing violations by the supervisors of Gaza branches and a deviation from the professional underwriting policies that were set by the general manger, which led to significant losses in the branches results that called for interference to correct the deviations and reactive the business according to the technical and professional policies for the insurance. The general manager and the chairman and the major shareholder of the company; Mr. Muhamad Al-Saba’wi, explained this decision that purposed to stop the deterioration of the company’s resources in addition to maintaining its assets and its sustainability to achieve profits and providing dividends distributions for its shareholders in the future. On the other hand, the board of directors meeting of the company was decided to be held on 22/11/2012 to discuss any other additional procedures.