Trade Union inks auto insurance deal with NCB

Trade Union Cooperative Insurance Co. (Trade Union) has signed an agreement with the National Commercial Bank (NCB) to provide auto insurance coverage for the vehicles sold by the bank under its financial leasing program.

Under the deal, the insurer will provide one-year coverage starting from January 1, 2018, Trade Union said in a bourse statement.

The annual installments of the contract are expected to generate over 10 percent of the company’s revenue.

Trade Union added that it also expects the deal to have a positive impact on its financial statements in 2018, starting first quarter.