Riyadh – Mubasher: The board of Chubb Arabia Cooperative Insurance Company approved increasing the company's capital by capitalizing part of the retained earnings and granting one bonus share for every two shares owned.

The distribution of the 50% bonus shares will raise the capital from SAR 200 million to SAR 300 million, the company said in a statement to the Saudi Stock Exchange (Tadawul) on Thursday.

The aim of the capital hike is to support the financial position of the company and its future expansion plans.