Al Rajihi Takaful EGM approves contracts for next year

Al Rajhi Company for Cooperative Insurance’s (Al Rajihi Takaful) extraordinary general assembly on Sunday approved insurance contracts with Al Rajhi Bank for the forthcoming year. The contracts were worth SAR 1 billion last year.

Shareholders also approved deals with Al Rajhi Capital for next year, which were worth SAR 3.2 million last year, the insurer said in a statement to Tadawul.

It also approved the contracts planned with Al Rajhi Insurance Company Ltd.- Bahrain. Last year’s business deals between the two parties amounted to SAR 748,000.

The insurer’s extraordinary general assembly approved the contracts planned for next year with Al Rajhi Takaful Agency (ARTA), and said that last year the companies made SAR 4.8 million worth of business.

In addition, contracts and business between the company and Al Rajhi Holdings was approved for next year, as their business in 2016 reached SAR 35.4 million.

The planned contracts and business with other companies owned by the chairman Abdullah Sulaiman Al Rajhi for next year were also approved, as deals made with his companies amounted to SAR 17.5 million.