Alinma Bank announces the signing of an agreement to purchase Tokio Marine & Nichido Fire Insurance (TMNF) in Arabian Shield Cooperative Insurance Co.
| Element List | Explanation |
|---|---|
| Announcement Detail | Alinma Bank announces the signing of an agreement to purchase the shares of Tokio Marine & Nichido Fire Insurance (TMNF) within Arabian Shield Cooperative Insurance Co. amounting to 5.75% of the company’s capital. The agreement comes after the Bank has obtained a non-objection to the purchase request from the Saudi Central Bank “SAMA” and the Insurance Authority.
This transaction reinforces the Bank’s commitment to enhancing the financial sector and expanding its footprint through diversifying its investments, as well as reflecting the bank’s confidence in the future growth of the insurance sector. |
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