ANB renews SAR 200 mln liability insurance policy with MetLife AIG ANB

Arab National Bank (ANB) has renewed on Monday a SAR 200 million directors and officers’ liability insurance policy issued by MetLife AIG ANB Cooperative Insurance Company for a total annual premium of SAR 370,000, both parties said in statements on Tadawul.

The one-year policy, which comes into effect starting from July 1, is renewable upon a mutual agreement.

ANB board members Robert Eid and Nizar Al Twaijri are related parties, as they are also board members of the insurer.

The deal was approved by the bank’s extraordinary general assembly on April 2, 2018, the statement added.