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| 24 June, 2018

BUZZ: Stocks in Saudi insurers jump as ban on female drivers is lifted

SABB Takaful jumps 6 percent in early trade

A Saudi woman checks a car  at the first automotive showroom solely dedicated for women in Jeddah, Saudi Arabia January 11, 2018.

A Saudi woman checks a car at the first automotive showroom solely dedicated for women in Jeddah, Saudi Arabia January 11, 2018.

Reuters/Reem Baeshen

Shares of Saudi insurance companies are trading higher on hopes that insurance volumes will rise as women begin driving on Sunday after the ban on woman driving was lifted.

SABB Takaful jumps 6 percent in early trade.

Other insurance firms including Al Rajhi Company for Cooperative Insurance 8230.SE and Trade Union Cooperative Insurance Co 8170.SE among the best performers in Saudi market.

Saudi index .TASI gains 1 percent during first hour of trading.

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(Reporting by Davide Barbuscia and Marwa Rashad; Editing by Saeed Azhar) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))