Alinma Bank, Tokio Marine plan insurance firm

Saudi's Alinma Bank and the Saudi arm of Tokio Marine have signed an agreement to set up an insurance firm with a capital of 200 million riyals ($53 million).
In the statement there was said that Saudi Basic Industries Corp will hold a 5 percent stake in the insurance firm which will float a 30 percent stake in an initial public offering after regulatory approval.

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