Riyadh – Mubasher: MetLife AIG ANB Cooperative Insurance announced the approval of issuance of contractors plants and machinery policy.

The insurance policy is with limit of SAR 356.8 million with a total annual premium of SAR 1.07 million and will be effective for one year, according to a bourse filing.

The company also approved issuing third party liability policy on with annual premium of SAR 241,120 that will be effective for one year in favor of Al Arabi Heavy Equipment Lease Company owned by over 50% by Arab National Bank.

The company hereby confirms that no preferential treatment was given on these policies and they are within the usual business activity of the company, the statement said.