KSA - Alinma Tokio renews deal with Abdul Latif Jameel
Wednesday, 04 07 2021, Category: Insurance and Reinsurance, Country: Saudi Arabia
Alinma Tokio Marine Company renewed an insurance agreement with Abdul Latif Jameel Group for one year starting 1 April 2021, according to a disclosure to Tadawul.
The deal value is estimated at SAR 34.04 million, with total insurance premiums exceeding 5% of Alinma Tokio's revenues based on the latest financial statements for 2020.
The company expected the contract, which covers a number of general insurance products, to reflect positively on the 2021 income statements.
Alinma Tokio incurred losses worth SAR 1.448 million in 2020, down by 95.75% on an annual basis.