AXA Cooperative Insurance Company announces the signing of an agreement with Abdul Latif Jameel United Leasing Company and United Installment Sales Company on 23-03-1438H corresponding 22-12-2016 through which AXA Cooperative Insurance in partnership with Al Rajhi Cooperative Insurance Company to provide motor insurance coverage for the vehicles owned by Abdul Latif Jameel United Leasing Company and United Installment Sales Company starting from 01-01-2017 and for one year.
This agreement reflects the confidence of Abdul Latif Jameel United Leasing Company and United Installment Sales Company in AXA Cooperative Insurance to provide better services to its clients, and reflects the ability of insurance companies operating under the umbrella of the Saudi Arabian Monetary Authority on cooperation and participation to achieve the desired results. The contract revenues are expected to be greater than 5% of the 2015 annual gross written premium of AXA Cooperative Insurance and it is expected to have an impact on its 2017 financial results.