Saudi Enaya Cooperative Insurance Company has announced the resignation of its Chief Executive Officer, Sultan Abdulrauf, with immediate effect.

Abdulrauf, who joined SECIC in 2020, has not specified a reason for his resignation. The company informed Tadawul, stating:  “The Board of Directors' decision dated 7 Jumada Al-Thani 1446H, corresponding to December 8, 2024, accepts the resignation of Mr. Sultan bin Mohammed bin Hassan Abdulraouf from his positions as Chief Executive Officer, Board Member, Executive Committee Member, and Investment Committee Member, effective 9 Sha’ban 1446H, corresponding to February 8, 2025, due to personal reasons.”

The company also expressed gratitude for Abdulrauf’s service, stating, “The Board of Directors extends its heartfelt gratitude and appreciation to Mr. Sultan bin Mohammed bin Hassan Abdulraouf for his active role and significant contributions during his tenure of more than four years with Saudi Enaya Cooperative Insurance Company.”

Abdulrauf holds nearly two decades of leadership experience. He has served as a board member of Saudi Entertainment Ventures and other private boards. Previously, he worked at Saudi Research & Marketing Group as Chief Investment Officer, SEDCO as Head of Corporate Direct Investments, SEDCO Capital as Managing Director, and Samba Financial Group as Assistant General Manager.  

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His academic credentials include a Master’s degree in Accounting and Finance from Cleveland State University and a Bachelor’s degree in Accounting from King AbdulAziz University. He is also a Certified Public Accountant in the United States. His core competencies include asset management, capital markets, mergers and acquisitions, risk management, emerging market growth and expansion, strategic planning, and investment banking.  

The company has not yet named his successor.