Alinma Tokio signs contract with Alinma Bank to provide insurance coverage for customers of financing portfolio at 27.87 mln

Alinma Tokio Marine Co. announced on Tuesday that the group credit insurance contract was signed with Alinma Bank 21/11/2022. The contract value may exceed 5% of the total annual revenues for the fiscal year 2022 amount SR27,879,134.00.
AlInma Bank is a related party as it owns 28.75% of the company’s shares, and it is represented in the Board of Directors by Mr. Abdullah bin Ali Al-Khalifa (indirect interest) and Mr. Emad bin Abdul Rahman Al-Butairi (indirect interest).
The Company confirmed that the contract was concluded in the normal course of business and did not confer any preferential benefits.