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1999 |
BSF and AGF (through AzSNA) signed a Bancassurance partnership to distribute Retail Life Products |
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2000 |
BSF and AGF launched Bancassurance operation: Retirement - Education |
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2004 |
Royal Decree opening KSA Market to New Insurers dissolving the monopoly of NCCI |
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2004 |
BSF and AGF acquired Insaudi, a Bahraini registered company operating in KSA |
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2005 |
BSF and AGF amongst 1st companies to apply for new Saudi License |
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2007 |
ASF is authorized to go Public |
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Mar’07 |
ASF went public: 32.5% BSF; 32.5% Allianz Group; 4% Saudis; 31% Public IPO |
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Jun’07 |
Constitution of General Assembly and 1st BOD |
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Mar’08 |
The Company received its operational license |
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Jun’08 |
3 products are authorized through ASF: Fidelity, Medical, & Engineering |
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Aug’08 |
The Company moved to a New Head Office in Riyadh, Malaz |
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Oct’08 |
The Company BOD agreed on a Capital Increase for 2009 of SAR 100 Million |
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Dec’08 |
The Company expanded its geographic presence to 7 Offices |
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Jan’09 |
InSaudi Portfolio is transferred to ASF with effect from 1st January 2009 |
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Jan’09 |
InSaudi stopped its activity and policies and are issued under ASF |
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Feb’09 |
P&C products approved under “File & Use” new SAMA approach |
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Feb’09 |
BA products temporarily approved, awaiting BSF Portfolio transfer |