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Alinma Tokio Marine Co. soars on regulator's approval for new products
- Saudi Arabia: Monday, November 05 - 2012 at 17:23
The Riyadh-based equity benchmark Tasi gained against the suggish global trend Monday, closing 0.43% higher at 6,843.15. While petrochemical leader Sabic closed flat at SR89.25, insurers fuelled the market's surge. For the second day straight, ACE Arabia Co-operative Insurance Co. advanced the most (up 9.93% at SR229.75). Shares of Alinma Tokio Marine Co. soared 9.78% to close at an alltime-hgh at SR101. Earlier in the day, Alinma Tokio Marine said it received approval from the Saudi Arabian Monetary Agency for a period of 6 months from the date of November 2 on for the sale of the three insurance products "fidelity guarantee", "money" and "personal accident".
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Gérard Al-Fil, Financial JournalistMonday, November 05 - 2012 at 17:23 UAE local time (GMT+4)
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This article was updated on Tue Nov 06 2012.
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