Riyadh – Mubasher: Al-Rajhi Company for Cooperative Insurance (Al-Rajhi Takaful) received approval from Abdul Latif Jameel United Finance Company Limited (ALJUF) and United Installment Sales Company Limited (UIS) to renew the motor insurance services contract for one year starting from 1 January 2021.

The contract value exceeds 5% of the total annual written premium for 2020, according to a bourse filing on Sunday.

Moreover, the contract is expected to have an impact on Al-Rajhi Takaful’s financial results for 2021.