Published: Jul 22, 2014
Source: Tadawul

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Gulf Union Cooperative Insurance (gulf union) co. announces for non-renewal of motor insurance policy with aksat global for business trading company

Gulf Union Cooperative Insurance (Gulf Union) Co. announces the non-renewal of motor insurance policy with Aksat Global for Business Trading Company for the next year which expire on 30/06/2014. Despite the fact that we lost this major account, which constitutes 12.5% of the total premiums of the company; we would like to emphasize that it will not have a negative impact financially mentioned on the company's financial statements at the year ended December 31, 2014. The company has developed a marketing plan to ensure the coverage of this decline in production and maintain a good momentum of sales growth in the future.

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