Al Rajhi Takaful wins life, motor insurance coverage contract from Social Development Bank

27/09/2021 Argaam

Logo of Al Rajhi Takaful

Saudi Arabia’s Social Development Bank awarded, on Sept. 26, a contract to Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) to provide life insurance coverage for its loan portfolio and motor insurance services

 

The insurer said in a bourse filing that the contract value cannot be determined, as the value of the written premiums arising from the agreement is related to the contract activities with Social Development Bank that cannot be decided at present.

 

The company expects the contract to have an impact on 2021 financials.

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