Gulf Union says precautionary measures might affect gross written premiums

Gulf Union Cooperative Insurance Co. said the precautionary measures taken by the Saudi authorities to curb the COVID-19 outbreak, including a 24-hour lockdown in several cities, could weigh on the insurance policies’ sales, hence, impact the gross written premiums.

The company said in a bourse statement that it is presently difficult to assess the financial impact of the measures, adding that any updates will be further disclosed in a timely manner.