SABB Takaful Co. has renewed the group care policy for Saudi British Bank (SABB) after obtaining the approval of Marsh Broker, the firm said in a bourse filing.

 

The gross premium is more than 1 percent of the audited financial statements of SABB Takaful for 2018.

 

The 12-month contract starts as of Oct. 1, 2019, the statement added.

 

The relevant financial impact will reflect on financials of fiscal year (FY) 2019.

 

The related parties are SABB representatives in the company’s board of directors; Mohammed Al-Shayea , Sami Al-Muhaid, Yasir Al-Barrak, Bashar Al-Qunaibet and Ian Moore.

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