SAICO inks auto insurance deal with Abdul Latif Jameel Finance for 1 year

17/11/2020 Argaam

Saudi Arabian Cooperative Insurance Co. (SAICO) signed, on Nov. 16, an agreement with Abdul Latif Jameel United Finance Co. to provide auto insurance coverage for the company’s vehicles financed through its lease financing program.

 

The agreement is valid for one year from the signing date, the insurer said in a bourse statement, expecting the annual installments of this deal to exceed 5% of its revenue.

 

The company expects the financial impact to reflect as of FY2021; however, the impact cannot be determined accurately as insurance claims differ from month to month.

 

No related parties are involved in the deal, the statement added.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.