Amana halts the issuance of third party vehicle insurance for one month

04/12/2014 Argaam

Amana Cooperative Insurance Company plans to stop the issuance of the third party vehicle insurance for one month as of December 7.
 

The company said in a filing to Tadawul that this decision was made to devote its time to review and complete third party vehicle insurance claims received by the company and enhance the service provided to the policyholders.


The company expected this step to slightly affect the net profit of Q4-2014 and Q1-2015 but might have a positive impact in reducing the technical reserve required when such claims are settled.

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