Al Rajhi Takaful to provide insurance coverage for Al Rajhi Bank’s mortgage clients

27/03/2025 Argaam
Logo ofAl-Rajhi Company for Cooperative Insurance (Al Rajhi Takaful)

Logo of Al-Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) 

Al-Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) signed a contract with Al Rajhi Bank today, March 27, to provide insurance coverage for the latter’s real estate finance customers.

 

The total value of the one-year contract is expected to exceed 5% of Al Rajhi Takaful’s total revenues, based on the latest audited annual financial statements, according to a Tadawul filing.

 

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The relevant financial impact is forecast to be reflected in Al Rajhi Takaful’s 2025 income statement.

 

Meanwhile, Al Rajhi Takaful said Chairman Abdullah S. Al-Rajhi, Deputy Chairman Saud Abdullah Al-Rajhi, and board member Naif Al-Rajhi are related parties.

 

It is not possible to determine the contract value, as the value of the written premiums arising from the contract depends on sales activity, which cannot be determined, the company said.

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