Mutakamela Insurance shareholders approve SAR 1.3B contracts with BSF

Mutakamela Insurance Co.’s shareholders, in an ordinary general meeting (OGM) held on June 23, approved business and contracts concluded with Banque Saudi Fransi (BSF) and its subsidiaries during 2024 for a total value of SAR 1.3 billion.

In a statement to Tadawul, the company said that the contracts included asset portfolio management for SAR 484.07 million, banking balances and asset custody without preferential terms for SAR 715.17 million, and insurance contracts (mainly multi-insurance policies) without preferential terms at SAR 76.74 million.

Additionally, shareholders approved all other agenda items.