Solidarity Saudi Takaful Co. has terminated the contractual agreements with Saudi Anadel Insurance Co. and Theatel Insurance Co. effective from Feb. 7, 2018, the insurer said in a bourse statement.

 

The step will not have a negative impact on the company’s financials as aggregate sales by both companies represent merely 11 percent of total company’s sales, the statement added.

 

Last April, Solidarity Saudi Takaful Co. inked non-exclusive marketing agreements with Theatle and Anadel market and sell Solidarity’s insurance commercial and retail policies across the Kingdom, Argaam reported earlier.

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