Arab National Bank (ANB) has renewed the directors and officers’ liability policy for MetLife AIG ANB Cooperative Insurance Co. with SAR 400,000 in annual premium, both entities said in separate bourse statements.
The one-year liability policy, which will be effective as of July 1, 2019, was previously approved in the bank’s extraordinary general meeting held last March.
Board directors, Robert Eid and Nizar Al Twaijri; ANB representatives at MetLife AIG ANB Cooperative Insurance, are considered related parties.
The relevant financial impact will appear on MetLife’s financial results for FY19.
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