Al Alamiya for Cooperative Insurance Co. has inked an insurance agreement with Tawkelat Financing Co. to provide an auto insurance coverage, the Saudi firm said in a bourse filing.
The contract will extend for one year as of March 30, 2019.
The contract's value will exceed 5 percent of the annual gross sales as per the latest audited financial statements.
The relevant financial impact will reflect on the insurer's financials for FY19.
There are no related parties involved in the agreement, the statement added.
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