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Tokio Marine ties up with Saudi firms on insurance

Posted on 01 April 2010

From Arabianbusiness.com: Japan’s Tokio Marine Holding has teamed up with Saudi Arabia’s Alinma bank and Saudi Basic Industries Corp to set up an insurance firm in the kingdom’s crowded but under tapped market.

Alinma Bank said it and Tokio Marine would equally share 57.5 percent of the new cooperative insurance firm’s $53.3 million capital under a memorandum of understanding signed on Wednesday……………………………….Full Article: Source

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