Malath Cooperative Insurance and Reinsurance Co. said it signed on Sept. 30 an amending supplement for the vehicle insurance agreement signed with Abdul Latif Jameel United Leasing.
Under this agreement, Malath cooperates with the other insurance companies to provide insurance coverage for the vehicles owned by Abdul Latif Jameel for the damages caused to the insured vehicles over three fiscal years starting from Jan. 1, 2013.
Malath share was doubled as of October 1, 2014 until the expiry of the agreement.
After signing the supplement, Malath’s share increased to nearly SAR 450 million.