Malath insurance signs SAR 164m agreement with ALJ

22/12/2013 Argaam

Malath cooperative insurance and reinsurance company (Malath Insuranc) announced today on tadawul the signing of an agreement with Abdul Latif Jameel united leasing company (ALJ) and United Installments Sales co. LTD.

According to the convention Malath will provide third party car insurance coverage for the vehicles owned by both companies.

The agreement has a term of three years starting on 1/1/2014 and an annual value of SAR 164m.

The financial impact of this agreement will be realized in 2014 financials.

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