Jazira Takaful signs SAR 3 mln portfolio protection deals with Bank Aljazira

Aljazira Takaful Taawuni Company (Jazira Takaful) has inked a SAR 716,510 worth of an agreement with Bank Aljazira to provide portfolio protection services to the bank employees, both entities said in two separate bourse statements.

The Saudi-based insurer also signed another agreement worth SAR 2.35 million with the bank to provide insurance services.

Both agreements will extend for one year, as of June 1, 2019. The relevant financial impact will reflect on financial statements of FY19 and FY20.

 Abdul Majeed Bin Ibrahim Abdul Mohsen Al Sultan, Chairman of Jazira Takaful and board director, Khaled Al Othman are related parties.