SABB Takaful’s board of directors on Monday accepted the resignation tendered by Anthony K. Bentley – non-executive member – who represents, HSBC group.

 

The resignation, which was submitted after HSBC Group sold its stake in the insurer to The Saudi British Bank (SABB), is effective immediately, SABB Takaful said in a bourse statement.

 

In August 2017, SABB inked an agreement with HSBC Asia Holdings BV and other wholly-owned subsidiaries of HSBC Holdings plc to buy their combined 32.5 percent stake in SABB Takaful for SAR 117.8 million, Argaam reported.

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