Al Rajhi Takaful signs insurance coverage deal with Al Rajhi Bank

02/08/2021 Argaam

Logo of Al Rajhi Takaful

Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) signed an agreement with Al Rajhi Bank to provide insurance coverage for its group credit mortgage portfolio clients for one year.

 

The company said in a bourse statement that the contract value may exceed 5% of the total sales for 2020.

 

The contract is expected to have an impact on the company’s financial results for 2021.

 

The related parties are Abdullah Sulaiman Al Rajhi as Chairman, Saud Abdullah Al Rajhi as Deputy Chairman, and Naif Abdullah Al Rajhi and Waleed Abdullah Al Mogbel as board members.

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