Saudi Indian Company for Cooperative Insurance (Wafa Insurance) has received regulatory approval from the Saudi Arabian Monetary Authority (SAMA) to issue auto insurance policies to new subscribers starting from July 4.

 

In a statement to Tadawul, Wafa added that it expects this move to boost its sales in Q3-2017.

 

In April, the company was suspended by the Kingdom’s central bank and insurance market regulator from issuing motor insurance policies, Argaam reported. 

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