NU Online News Service, Jan. 13, 1:08 p.m. EST

ACE Ltd. said its ACE Arabia Cooperative Insurance Co. has been granted a license by the Saudi Arabian Monetary Agency (SAMA) to conduct insurance business in the Kingdom of Saudi Arabia.

Syed Umer Ali Shah, managing director of ACE Arabia, said the insurer is "delighted to have been granted this license which marks the final stage in the establishment of ACE Arabia as a locally domiciled company in Saudi Arabia."

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