Chubb Arabia inks SAR 14.8 mln insurance deal for Inochem’s calcium project

20/01/2020 Argaam

 

Chubb Arabia Cooperative Insurance Co. signed on Jan. 19 a SAR 14.8 million contract with Khair Inorganic Chemical Industries Co. (Inochem) to provide insurance services for the construction of a soda ash and calcium chloride production complex at Ras Al-Khair Industrial City.

 

The 3-year contract amounts to more than 5% of the total revenue of Chubb Arabia for the fiscal year of 2018, the company said in a bourse statement.

 

The financial impact of the contract will appear in Q1 2020 results, the statement said, adding that no preferential treatment was given on this policy and it is within the usual business activity of the insurer.

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