| Introduction |
MetLife AIG ANB Cooperative Insurance Company announces the renewal of a Marine Cargo Open Cover policy in the name of Arab National Bank after obtaining the approval of the General Assembly held on 27/06/2018 |
| Date of announcement of the assignment |
2019-03-07 Corresponding to 1440-06-30 |
| Subject of contract |
Marine Cargo Open Cover policy |
| Date of contract sign off |
2019-03-07 Corresponding to 1440-06-30 |
| Contract Value |
The premium booked during the previous policy year was SAR 185,288. |
| Contract Details |
Renewal of a Marine Cargo Open Cover policy in the name of Arab National Bank on a declaration value basis covering the cargo of the Letter of Credit clients of Arab National Bank |
| Contract Duration |
12 months starting from 08/03/2019 |
| The financial impact and period that this project will affect |
The financial impact of the policy will appear on the financial results of the year 2019 |
| Related Parties |
The Board members Robert Eid and Nizar Al Twaijri have direct interest in the policy as they are representatives of Arab National Bank in the Board of Directors of the Company. |
| Additional Information |
The Company hereby confirms that no preferential treatment was given on this policy and it is within the usual business activity of the Company |
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