KSA - Malath inks vehicle ins. deal with Bank Albilad
Wednesday, 10 23 2019, Category: Banking, Country: Saudi Arabia
Malath Cooperative Insurance Company signed a vehicle insurance with Bank Albilad at a value equivalent to 5% of the firm’s total annual sales.
By means of the contract, the company will cover the insurance of the bank’s vehicles as per the agreed terms and provisions for one year starting from 1 November 2019, according to a disclosure to the Saudi Stock Exchange (Tadawul) on Tuesday.
The expected premiums for the contract will amount to 5% of the company’s total annual sales.
Earlier today, the firm received the bank’s letter of award or the rental finance. The authorisation reflects the firm’s strong financial position and the bank’s confidence in its ability to offer the best insurance services to all customers.