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Bank Aljazira transfers its insurance portfolio to Aljazira Takaful Taawuni

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Magazine Issue: 
The virtuous cycle of training [3]
Magazine date: 
Jan 2020

Aljazira TakafulThe Saudi Monetary Authority (SAMA) has agreed the transfer of Bank Aljazira's insurance portfolio to its subsidiary Aljazira Takaful Taawuni Company. According to the bank's press release, the transfer will have a positive impact on its 2020 results.

This transaction follows the insurance agreements signed by the two parties in October 2019 worth 40 million SAR (10.7 million USD). Bank Aljazira owns 30% of Aljazira Takaful.

Read also | Top 30 insurance companies in Saudi Arabia [4]

Mon, 20/01/2020 - 15:06

Source URL: https://www.atlas-mag.net/en/article/bank-aljazira-transfers-its-insurance-portfolio-to-aljazira-takaful-taawuni

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[4] https://www.atlas-mag.net/en/article/insurance-companies-in-saudi-arabia-ranking-2018