Arabia Insurance gets notice from Arabian Centres on fire at Mall of Dhahran

Logo of Arabia Insurance Cooperative Co.

Arabia Insurance Cooperative Co. received, on May 13, a notice of fire incident at Mall of Dhahran, owned by Arabian Centres Co. (ACC).

The insurance services provider has immediately appointed a loss adjuster, licensed by the Saudi Central Bank (SAMA), to assess damages from the fire, Arabia Insurance said in a statement to Tadawul.

The losses resulting from the accident are properly re-insured with reinsurers of above 99.5%. Accordingly, there will be no major financial impact on the company’s results.

Any material developments will be announced immediately.

ACC announced that a blaze broke out at the Mall of Dhahran on May 13, noting that the shopping center will be closed until further notice, Argaam earlier reported.