| Introduction | Rasan Information Technology Company announces that its subsidiary, Tameeni Electronic Insurance Broker Company, has signed an agreement with The Saudi National Bank (SNB) on 06/02/1447H corresponding to 31/07/2025G. Under this agreement, Tameeni will provide insurance broker services and offer comprehensive insurance coverage for vehicles leased through the bank’s financing program. |
| Date of Announcement of the Award | 2025-07-31 Corresponding to 1447-02-06 |
| Contract Subject Matter | Insurance Broker and Services Agreement |
| The Entity with Which the Contract was Signed | The Saudi National Bank |
| Date of Signing the Contract | 2025-07-31 Corresponding to 1447-02-06 |
| Contract Value | Based on the previous information, the Company expects this agreement to have an impact exceeding 5% of the total revenues of Rasan Information Technology Company., based on the latest annual audited financial statements. |
| Contract Details | Tameeni, through its digital platforms, will provide insurance broker services and will be responsible for issuing and renewing comprehensive insurance policies for Saudi National Bank (SNB) customers with vehicles leased through the bank’s financing program. |
| Contract Duration | 3 Years |
| Financial Impact and the Relevant Period | Rasan expects a positive contribution of this agreement to be shown in its accounts by the third quarter of 2025 and will continue through the third quarter of 2028 |
| Related Parties | None |
| Additional Information | This announcement follows the previous disclosure made by Rasan Information Technology Company on 29/08/2024G, corresponding to 25/02/1446H, in which the Company announced that its subsidiary, Tameeni E-Insurance Brokerage Company, had obtained approval from the Insurance Authority to sell comprehensive insurance products for vehicles leased through financing to individual customers. |
