SAICO signs bancassurance agreement with ANB

02/11/2021 Argaam

Logo of Saudi Arabian Cooperative Insurance Co.

Saudi Arabian Cooperative Insurance Co. (SAICO) signed a bancassurance agreement with Arab National Bank (ANB) today, Nov. 2, for three years, the insurer said in a bourse statement.

 

Under this agreement, the company will distribute and sell its insurance products through the bank.

 

The impact of this agreement will appear on the company's FY2022 financials, the statement said. 

 

The agreement’s value and financial impact cannot be determined precisely due to the difference in the value of the monthly insurance applications received by the bank.

 

There are no related parties in the deal, the company stated.

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