Alinma Tokio Marine Insurance Co. has signed a non-exclusive insurance agency agreement with AlMarooz Insurance Agency Co., the insurer said in a bourse statement.
Under the agreement, AlMarooz will market and sell Alinma Tokio’s commercial and individual insurance policies all over the Kingdom.
The agreement has a term of one year from Aug. 27, 2019.
The agent has obtained The Saudi Arabian Monetary Authority’s (SAMA) no objection on the agreement.
The deal is expected to have a positive financial impact on Alinma Tokio’s financials, the statement added.
No related parties are involved in the deal.
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