Walaa expects positive financial performance in 2020 on compulsory motor insurance

Walaa Cooperative Insurance Co. said in a bourse statement that it expects the General Department of Traffic’s decision about compulsory motor insurance to have a material impact on its motor policies sales.

Accordingly, the move is likely to positively reflect on the company's financial performance this year, it added.

The Saudi General Department of Traffic urged all vehicle owners yesterday to have valid vehicle insurance before the resumption of the automatic issuance of traffic violations from July 22.