Al-Etihad signs vehicles insurance agreement with Saudi National Bank for one year

Al-Etihad Cooperative Insurance Company (Al-Etihad) announced on Monday the signing of a comprehensive insurance agreement with Saudi National Bank, which provides comprehensive insurance coverage for financial leasing vehicles to individuals for one year.

The company said that the value of the agreement and the financial impact cannot be accurately determined due to the different value of the monthly insurance requests received. However, the company expect the contract revenues to exceed 5% of the company’s gross written premiums for the latest published yearly financials 2022.

The company expected that the financial impact of this agreement will be reflected on company’s financial performance starting from the first quarter of the year 2024.