Arabian Shield Cooperative Insurance Co. will terminate agreements with all insurance agencies as starting Dec. 31, the company said in a statement to Tadawul.

 

The decision comes as part of the insurer’s new strategy to sell and distributing services online.

 

Agency policies contributed around 30 percent of the insurer’s total policies and contracts this year.

 

Relevant financial impact will likely reflect on 2018 earnings statements. 

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