SABB Takaful has obtained the Saudi British Bank’s (SABB) approval to renew the Takaful program for group debt insurance with total annual premium expected at SAR 39.09 million.
The one year program, which was renewed on Oct 1, 2016, is expected to have a positive impact on the company’s financials for the fiscal year 2016, the insurer said in a statement to Tadawul.
The deal is a related-party transaction but the policy doesn’t grant any preferential advantages, the company added.
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