Wataniya inks auto insurance contract with NCB

01/02/2018 Argaam

 

Wataniya Insurance Co. on Thursday inked a contract with National Commercial Bank (NCB) to provide insurance for vehicles sold through the bank’s lease finance program.

 

The contract is valid for one year from Feb. 1, 2018, the insurer said in a bourse statement.

 

Annual premiums from the contract are expected to exceed 5 percent of Wataniya’s revenue.

 

No related parties are involved in the deal, the statement said, adding that financial impact will be reflected starting from Q1 2018. 

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