Alinma Tokio Marine Insurance Co. has signed a non-exclusive insurance agency agreement with AlMarooz Insurance Agency Co., the insurer said in a bourse statement.

 

Under the agreement, AlMarooz will market and sell Alinma Tokio’s commercial and individual insurance policies all over the Kingdom.

 

The agreement has a term of one year from Aug. 27, 2019.

 

The agent has obtained The Saudi Arabian Monetary Authority’s (SAMA) no objection on the agreement.

 

The deal is expected to have a positive financial impact on Alinma Tokio’s financials, the statement added.

 

No related parties are involved in the deal.

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