Walaa signs 1-year insurance deal with Saudi Aramco

31/03/2021 Argaam

Logo of Walaa Cooperative Insurance

Walaa Cooperative Insurance Co. signed, on March 30, 2021, an insurance agreement with Saudi Aramco to provide insurance coverage on energy, property, motor, marines, and other products. 

 

The one-year agreement will come into force on April 1, Walaa said in a statement.

 

The agreement value exceeds 20% of the gross written premiums of the company for 2020. 

 

The financial impact of the policy will appear on the financial results of 2021. 

 

There is no related party to the deal, Walaa added, noting that no preferential treatment was given on this policy and it is within the usual business activity of the company.

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