Logo of AlJazira Takaful Taawuni Co.

AlJazira Takaful Taawuni Co. announced it signed today, April 17, four contracts with Bank AlJazira, according to a bourse filing.
 

Contracts in Details

Insurance Type

Value

Duration

Property All Risk- Mortgage Customer

SAR 1.91 mln

One year

All Risk- Mortgage Employee

SAR 33,521

One year

Banker's Blanket Bond (BBB)

SAR 6.3 mln

One year

All-Risk Property Insurance Policy

SAR 329,743

One year

 

The SAR 8,568,843 agreements are expected to have a direct impact on its financial results for 2022 and 2023.
 

AlJazira Takaful confirms that the contract is within the normal course of business and does not confer any preferential benefits.
 

AlJazira Takaful also noted that there are related parties:


1- Abdulmajeed Al Sultan, who has an indirect interest in this contract, as he is a board member in AlKazira Takaful.


2- Khalid Al Othman, who has an indirect interest in this contract, as he is one of the senior executives in the bank and a board member in AlJazira Takaful.

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