Riyadh – Mubasher: Malath Cooperative Insurance Company has renewed auto insurance coverage contract with the Arab National Bank (ANB) for one year starting from 1 June.

Under the deal, the kingdom-based insurer will provide its customers with insurance coverage for vehicles being sold through the bank’s leasing financial programme, the company said in a filing to the Saudi Stock Exchange (Tadawul) on Monday.

The company noted that annual premiums are expected to exceed 5% of its revenues.