SABB Takaful Insurance Co. has obtained Saudi British Bank’s (SABB) approval to renew the Takaful program for group debt insurance for one year from Oct. 1, 2017.
The policy has total installments of SAR 35.1 million for one year, the insurer said in a bourse statement.
The renewal is expected to have a positive impact on SABB Takaful’s financial results for 2017.
The Saudi-listed insurer added that SABB is a related party; however, the policy was not granted any preferential terms.
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