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Walaa Cooperative Insurance Company announces signing an insurance agreement with Arab National Bank (Related Party) to provide an insurance coverage on the property program and group life

WALAA 8060 -1.38% 17.20 -0.24
Element List Explanation
Introduction Walaa Cooperative Insurance Company announces the signing of insurance agreement with Arab National Bank for providing insurance coverage on the property program and group life
Date of Announcement of the Award 2020-06-01 Corresponding to 1441-10-09
Contract Subject Matter Insurance coverage on the property program and group life
Date of Signing the Contract 2020-05-21 Corresponding to 1441-09-28
Contract Value The premium without VAT 2,290,383.78
Contract Details Walaa Cooperative Insurance Company announces that it has received on Thursday 28/09/1441H (Corresponding to 2020/05/21) the confirmation from Arab National Bank (Related Party) to provide insurance coverage on property program and group life for the Bank. for a period of one year starting on 01/06/2020
Contract Duration One Year
Financial Impact and the Relevant Period The financial impact of the policy will appear on the financial results of the year 2020
Related Parties The Board member Mr. Hesham Al Jabr have interest in the policy as he is the representative 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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