Alinma Tokio renews insurance agreement with Alinma Bank for one year

21/06/2020 Argaam

Alinma Tokio Marine Co. received, on Sunday, the renewal of insurance policy with Alinma Bank for one year from June 21, 2020, according to the agreed terms and conditions.

 

The contract renewal value reached SAR 31 million, the company said in a bourse statement, expecting the renewal to have a positive impact on its financial statements for FY2020.

 

Alinma Bank is a related-party represented in Alinma Tokio’s board by Abdulmohsen A. Al-Fares, Mutlaq Al-Morished and Ibrahim Suleiman Al Sayari, however, the contract was concluded within the normal course of business without any preferential terms, the statement added.

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