Malath Cooperative renews auto insurance contract with Bank Albilad

The estimated value of the contract's annual instalments is 5% of Malath’s annual total sales

  
Men walk pass an automated teller machine (ATM) Bank Albilad in Riyadh, Saudi Arabia, April 25, 2016.

Men walk pass an automated teller machine (ATM) Bank Albilad in Riyadh, Saudi Arabia, April 25, 2016.

REUTERS/Faisal Al Nasser

Riyadh –  Malath Cooperative Insurance Company has renewed on 28 October an auto insurance contract with Bank Albilad for one year effective from 1 November 2020.

The estimated value of the contract's annual instalments is 5% of Malath’s annual total sales, according to a stock exchange filing on Thursday.

The material impact of the deal cannot be determined at the moment.

Moreover, the renewal reflects Bank Albilad's confidence in Malath’s capability in providing the best insurance services to the bank's clients and its solid financial position, the statement noted.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Financial Services