Aljazira Takaful Taawuni Co. signed on May 30 a collective insurance services contract worth SAR 2.3 million with Bank Aljazira, the insurer said in a statement to Tadawul on Sunday.
The coverage of the one-year contract began on June 1, the statement said.
The deal’s financial impact is expected to show on 2018 and 2019 financial results.
Aljazira Takaful chairman Abdel Majeed bin Ibrahim Al Sultan and board member Ziad Aba Al-Khail are related parties, it added.
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