The Board of Directors of ACE Arabia Cooperative Insurance Company has decided to recommend to the General Body, subject to obtaining all legal and regulatory clearances, changing our legal and brand name to CHUBB Arabia Cooperative Insurance Company following the global acquisition of CHUBB by ACE and the new entity continuing with the legal and brand name CHUBB.

We have already received no objection to this effect from Saudi Arabian Monetary Agency. We are in the process of obtaining the remaining regulatory/legal clearances. An Extraordinary General Meeting of the shareholders of the Company shall be convened on a date yet to be determined for considering the name change.