Muneer Al Mughairi resigns from Liva Insurance board
Liva Insurance Company's board accepted non-executive director Muneer Al Mughairi's resignation on October 22, 2026. He cited personal reasons for leaving, according to a stock exchange filing reported by Mubasher.
Omar Al Nuaimi
Board and committee departure
Al Mughairi's resignation took effect when he submitted it and covered all his subcommittee positions as well as his board seat. He had joined the board on November 26, 2024.
The board thanked him for his work and contributions. Liva said it would provide updates in due course on the appointment of a replacement.
Mubasher also reported that Liva had recently accepted independent director Al Lawati's resignation from all board subcommittees.
Earlier board changes in 2026
Saudi Exchange (Tadawul) disclosures record several other departures at Liva Insurance, which trades under ticker 8280. Bader Brahim Alswailem, an independent director, left both the board and its Audit Committee effective February 14, 2026. His departure followed a Royal Decree appointing him Vice Minister of Human Resources and Social Development for Social Development.
Addal Sarwar stepped down as a non-executive director for personal reasons effective April 28, 2026. David Healy, Liva Group's chief executive officer, succeeded him on April 29 as a non-executive member after the Insurance Authority issued its non-objection.
Two more non-executive directors, Martin Rueegg and Sanjay Kawatra, resigned effective July 1, 2026.
Company history and ownership
Based in Riyadh, the insurer was established in 2009 as a Saudi joint stock company conducting cooperative insurance. It operated as Al Alamiya for Cooperative Insurance Company before announcing the Liva Insurance Company name on November 7, 2023.
Its share capital stands at SAR 400 million following an increase from SAR 200 million in January 2015. Founding shareholders included Royal & Sun Alliance Insurance (Middle East) Limited E.C., with 50.07%, and Riyad Bank, with 19.92%; the remaining 30% was offered to the public.
Liva Insurance B.S.C. (c), a subsidiary of Oman-listed Liva Group (MSM: LIVA), holds a majority stake in the Saudi insurer. In an August 2024 announcement about a potential merger, the company described Liva Group as having about 1,200 employees and more than 1.5 million customers, with operations in GCC markets including Oman, Saudi Arabia, the United Arab Emirates, Kuwait and Bahrain.
The 2024 merger proposal
Liva's Saudi business and Malath Cooperative Insurance Company agreed on August 21, 2024, to assess a potential statutory merger under a non-binding memorandum of understanding. The memorandum provided for termination after 12 months or when a merger agreement was executed, whichever occurred first.
A transaction would require a definitive agreement and approvals from regulators and shareholders. At the time of the announcement, Liva KSA reported gross written premium of SAR 522 million (USD 139 million), while Malath reported SAR 871 million (USD 232 million).
