Al Rajhi Takaful renews auto insurance services contract for 1 year

09/10/2019 Argaam

Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) has renewed an auto insurance services agreement with Abdul Latif Jameel United Leasing Co. and United Installment Sales Co., the company said in a bourse filing.

 

The contract will be renewed for one year as of Jan. 1, 2020.

 

The contract’s value is expected to exceed 5 percent of gross annual sales for 2019.

 

The relevant financial impact will appear on financial statements for 2020.

 

The agreement involved no related parties, the statement added.

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