AlAhli Takaful renews insurance policy with NCB for SAR 54.7 mln

25/12/2019 Argaam

 

Alahli Takaful announced receiving an approval from National Commercial Bank (NCB) to renew group credit and care insurance coverage for 1 year.

 

The coverage will come into effect from Jan. 1, 2020, for a total amount of SAR 54.7 million, the insurer said in a bourse filing.

 

The contract was approved by the general assembly meeting held on May 21, 2019 and no preferential treatment was given on this policy, the insurer added.

 

Board members AlSharif AlGhalib and Khalid Bashniny have an indirect interest in the deal, being the representatives of NCB on Alahli Takaful’s board.

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