Elm awards SAR 71.8 mln contract to Tawuniya to provide insurance for employees

20/06/2023 Argaam

Elm signs SAR 71.8 mln contract with Tawuniya to provide coverage for employees

Logo of Elm Co.

Elm Co. awarded a health insurance contract to The Company for Cooperative Insurance (Tawuniya) – a related party – under which the latter will provide services for the company’s employees and their families.

 

In a statement to Tadawul, Elm clarified that the contract, valued at SAR 71.76 million (VAT included), has a duration of one year from the signing date – June 20, 2023.

 

The deal’s financial impact and cost will be over H2 2023 and H1 2024.

 

Khaled Abdulaziz Al-Ghunaim has an indirect interest in this contract, as a board member in Elm and Tawuniya.

 

The company stressed that the contract was awarded within the normal course of business and without any preferential benefits.

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