Riyadh – Mubasher:  AXA Cooperative Insurance Company inked auto insurance contracts with Abdul Latif Jameel United Finance Company and United Installment Sales Company.

The newly signed deals will extend for one year, starting from 1 January 2020, according to AXA Cooperative’s statement to the Saudi Stock Exchange (Tadawul) on Wednesday.

Both deals are expected to lead to a 5% increase in AXA Cooperative’s gross written premiums (GWP).

The Saudi-based company noted that the financial impact of the deals is anticipated to show in the firm’s financial results for the fiscal year 2020.