Alahli Takaful Co. AnnouncessTakaful Announces the Renewal of the Insurance Agreements with NCB - related party
| Element List | Explanation |
|---|---|
| Announcement Detail | AlAhli Takaful announces it has received on Wednesday 17 April 2019, the confirmation from the National Commercial Bank to renew Group Credit & Group care insurance coverage for one year starting from January 1, 2019. The value of these contracts is almost 46 million Saudi Riyals per insurance year. ATC expects a positive impact on its financials for the year 2019.
Members of the Board of Directors have a direct interest as representatives of NCB on the Board of Directors of the Company, as follows (AlSharif Khalid AlGhalib, Mr. Khalid Mohammed Bashniny & Mr. Abdullah Ali AlFarraj
Note that the prior approval of the above-mentioned contracts has been obtained in the General Assembly meeting held on 23 April 2018, AlAhli Takaful confirms that the contract is in the ordinary course of business and has not been granted any special benefits. |
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