The Mediterranean and Gulf Insurance and Reinsurance Co.  said it has received Saudi Arabian Monetary Authority’s (SAMA) approval to extend the term of Abdulrahman Al Zwaidi as the company’s chief executive for six months starting from Nov. 2, 2017.

 

The extended period is non-renewable, the company said in a bourse statement.

 

Meanwhile, the company’s board approved appointing Al Zwaidi as acting CEO for additional six months starting from Nov. 2.

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