GULF UNION ANNOUNCES THE NON-RENEWAL OF INSURANCE MOTOR POLICY WITH KIA

Gulf Union Cooperative Insurance (Gulf Union) announces the non-renewal of insurance motor policy with Al Jabr Trading Company for the next year starting from19/07/2012. Despite the fact that we lost this major account, which constitutes more than 10% of the total premiums of the company; we would like to emphasize that it will not have a negative impact financially mentioned on lists of the company's financial statements at the year ended December 31, 2012.
The company has developed a marketing plan to ensure the coverage of this decline in production and maintain a good momentum of sales growth in the future.