MetLife AIG ANB Cooperative Insurance Co. on Oct. 28 opened an account with Arab National Bank (ANB) – a related party – to invest in mutual funds on behalf of the comprehensive life insurance policyholders.  

 

The policy value will be set at the end of every fiscal year, upon request of the insured, MetLife said in a bourse statement on Monday.

 

No preferential conditions were included in the new account.

 

The insurer added that it expects the related financial impact to show at the end of this year.

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