ACE Saudi office opens

Middle East

ACE Group, together with its Saudi Arabian partner organisation the Elkhereiji Group, has received authorisation for a new insurance subsidiary in Saudi Arabia. ACE Arabia Cooperative Insurance Company will now launch in the country to write domestic risks. “This is a very significant step in the process set out in the insurance law of 2005”, said Giles Ward, regional managing director for ACE. “It provides reassurance to our customers and staff that the Saudi authorities have confidence in our business plans and allows us to progress the formation of the company”, he said. ACE has had a presence in the Saudi Arabian market in partnership with the Elkhereiji Group for over 30 years.