ARIG says Al Rajhi Takaful ordered to pay SAR 25.4M

27/03/2024 Argaam

ARIG says Al Rajhi Takaful ordered to pay SAR 25.4M

Logo of Al-Rajhi Company for Cooperative Insurance (Al Rajhi Takaful)

Arab Insurance Group (ARIG) announced that a final verdict was issued in its favor on Feb. 8, 2024, ordering Al-Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) to pay SAR 25.44 million.
 

In a statement to the Bahrain Bourse (BHB), the company noted that the collection of the amount, after expenses, will result in a profit.

 

The company highlighted that the judgment followed the Committees for Resolution of Insurance Disputes & Violations in Riyadh's acceptance of ARIG's appeal, which annulled the first instance committee's decision to dismiss ARIG's lawsuit against the defendant. 

ARIG - Lawsuits and judgments disclosure

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