Solidarity Takaful terminates marketing contract with Wattad National Insurance

13/10/2020 Argaam

Solidarity Saudi Takaful Co. terminated the non-exclusive agency agreement signed with Wattad National Insurance Co. for marketing and sale of its products.

 

The contract termination was due to the agent's failure to fulfil its obligations as stipulated in the contract, the company said in a bourse statement

 

The move will not have any material financial impact.

 

In July 2019, Solidarity signed a non-exclusive, three-year agency agreement with Wattad National for marketing and sale of its retail and commercial insurance certificates across the Kingdom.

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