Press releases, Reports & Disclosures for Al Sagr National Insurance Company

The National Falcon Insurance Company has established a policy and guidelines for its nomination and rewards committee, as per the decision of the Chairman of the Securities and Commodities Authority and the institutional governance system for insurance companies issued by the Central Bank. The board oversees the company's compensation system, which should align with the company's strategy, risk tolerance, long-term interests, values, and should not encourage excessive risk-taking. The rules for selecting and forming the nomination and rewards committee are as follows: 1) The board forms a permanent committee called the nomination and rewards committee. 2) The committee consists of non-executive board members, with a minimum of three members. 3) At least two members of the committee must be independent members. 4) The committee is chaired by one of the independent members. 5) The Chairman of the board cannot be a member of any of the committees. The committee holds its meetings once a year or as needed. No board member or executive manager, except for the committee's secretary or a member, is allowed to attend the committee's meetings.