Al Ahli Takaful renews insurance contract with NCB

02/03/2017 Argaam

Al Ahli Takaful Co. has renewed a contract with the National Commercial Bank (NCB) to provide insurance coverage for the bank’s debtors and staff for one year, the Saudi insurer said in a statement to Tadawul.

 

The annual premiums resulting from the deal will amount to more than 20 percent of Al Ahli’s gross premiums estimated for 2017, the insurer added.

 

The relevant financial impact is forecast to appear on financial statements for 2017.

 

The deal is still pending the approval of the insurance company’s shareholders.

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