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Sama suspends Willis Saudi Arabia operations

Saudi Arabia, June 11, 2018

A number of companies, including airlines and aviation firms, in the GCC and Egypt have dissolved agreements with Willis Saudi Arabia following the Saudi Arabian Monetary Authority's (Sama) decision to suspend the firm's insurance and reinsurance activities.

The insurer was suspended due to severe violations, which impacted the integrity and fairness of competition, the kingdom’s central bank said.

Lifting the suspension will be considered when the firm corrects the situation and abides by the rules, it added.

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