| Announcement Detail |
Al Ahli Takaful Company announces its agreement with NCB Bank (a related party) to discontinue providing insurance coverage services to the Group Creditors’ Protection Plan on the Personal Loan Portfolio after the end of the insurance coverage for the current contract which ended on the 31 of December 2018G. The Company loss (the inability to subscribe from the insurance operations) of this contract is estimated at SR 3.4 million for the year 2018, The agreement is expected to have a negative financial impact on the company, mainly the decrease in Gross Written Premiums for 2019, as the Gross Written premium from this policy represent 27% of total written premiums for 2018. |
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