The companies, which is licensed by CMA to practice insurance service as per Royal Decree No.12/79 Promulgating the Insurance Companies Law.
Insurance companies are the companies, which specialized in transferring risks from individuals or companies to their insurance portfolios through insurance contracts. Insurance contracts consist of two parties, insurer and insured where the insurer beers the financial loss that arise from the insured risk stated in the insurance contract. Moreover, the insured will pay annual premium to benefit from such service.
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