Al Etihad Cooperative Insurance Co. has signed insurance agency agreement with Saudi Takaful Insurance Agency Co., the insurer said in a bourse statement.
Under the agreement, Saudi Takaful will market and sell Al Etihad’s commercial insurance products through its branches within the Kingdom according to the regulations of The Saudi Arabian Monetary Authority (SAMA).
The agreement has a term of one year that could be renewed, the statement added.
The deal is expected to have a positive financial impact on Al Etihad’s financials starting from Q4 2019.
No related parties are involved in the deal.
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