Imposition of a Fine on MetLife AIG ANB Cooperative Insurance Co.

​The Capital Market Authority announces the issuance of a CMA Board resolution to impose a  fine of SR 10,000 (Ten Thousand Saudi Riyals) on MetLife AIG ANB Cooperative Insurance Co. due to its violation of clause (A) of Article (40) of the Listing Rules as well as the sub-clause (4) of clause (E) of the General Instructions that must be taken into account by companies when publishing its  announcements. The company disclosed incorrect information in its announcement on the Saudi Stock Exchange (Tadawul)'s website on 29/03/2015 relating to the financial impact of the insurance contract with the Saudi Electricity Company of finalizing of an erection  all  risk   policy, which was corrected in the addendum announcement by the company on 30/03/2015, that the financial impact of the contract will appear in 2015 and 2016 and 2017.