Solidarity to expand its direct sales operation after ending agreement with its agent Waad

Solidarity Saudi Takaful Co will expand direct sales operation of its insurance policies to avoid a drop in its sales after ending an agreement with its agent, Waad Insurance, which sold 26 percent of Solidarity’s products in 2013.

Solidarity signed a 3-year non-exclusive agent contract with Waad in August 2012 to market and sell its insurance products, according to Argaam.

Solidarity’s policies cover individual and commercial damages across the kingdom.

The agreement was ended upon the request of Waad.