Gulf General wins vehicle insurance contract from Al Wefaq Transport

30/05/2022 Argaam

Logo of Gulf General Cooperative Insurance Co.

Gulf General Cooperative Insurance Co.  announced that it was awarded on May 25 a comprehensive insurance services contract by Al Wefaq Transportation Solutions for its vehicle fleet.

 

The one-year contract is effective from May 26, the company said in a bourse filing.

 

The contract value is 10% higher than the company's total revenue, according to the audited financial statements for 2021, the insurer added.

 

This contract is expected to have a positive financial impact on the company's financial results, starting from the second quarter of 2022.

 

There are no related parties to the agreement, the company added.

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