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Alahli Takaful, SNB sign bancassurance agreement

Alahli Takaful, SNB sign bancassurance agreement
The agreement duration is five years
ATC
8130
1.47% 41.35 0.60
SNB
1180
-0.98% 60.90 -0.60

Riyadh – Mubasher: Alahli Takaful Company has signed a bancassurance contract with the Saudi National Bank (SNB) as the bank will provide marketing and distribution services for the insurance company’s products.

The agreement duration is five years from the date of signing the contract on 29 July 2021, according to a bourse filing on Thursday.

Alahlia Takaful could not determine the value of the contract, as the written premiums' value arising from the agreement is related to sales activities that cannot be determined.

The financial impact, however, will reflect on the full-year income statements for 2021.