Solidarity Saudi Takaful terminates contract with insurance agent

The termination comes as the agent is unable to continue fulfilling the liabilities stipulated in the contract

  
Image used for illustrative purpose. Magnifying glass and banknote Saudi Arabia.

Image used for illustrative purpose. Magnifying glass and banknote Saudi Arabia.

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Riyadh –  Solidarity Saudi Takaful Company has terminated the agency agreement it had signed with Wattad National Insurance Company on 13 October 2020 to market and sell its insurance products.

The termination comes as the agent is unable to continue fulfilling the liabilities stipulated in the contract, according to a stock exchange statement on Tuesday.

There will be no significant negative impact following the termination, Solidarity Saudi Takaful stated.

Source: Mubasher

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