Riyadh - Mubasher: Arabia Insurance Cooperative Company received final approval from the Insurance Authority on 16 July 2026 to begin the marketing and sale of its Premium Residency insurance product.
The approval, which was communicated via the regulator's electronic platform, specifically covers the insurance offering designed for individual clients within the Kingdom of Saudi Arabia.
The newly approved product has been assigned the identification number P-AICC-2-I-26-053. This regulatory milestone follows the formal notification received by the company on 16 July.
The authorization allows the insurer to expand its retail portfolio by providing specialized coverage required for beneficiaries of the Saudi Premium Residency program.
The company stated that the approval represents the final regulatory step required to bring the product to the domestic market.
No financial impact was disclosed in the regulatory filing regarding the expected revenue or costs associated with the launch of the new individual insurance line.
The insurance firm has appointed Wahbe Abdullah Tamari as Chairman of the Board.
