Walaa says insurance coverage contract with Aramco exceeds 15% in GWP

10/04/2022 Argaam

Logo of Walaa Cooperative Insurance Co.

Walaa Cooperative Insurance Co. said the value of the insurance agreement signed with Saudi Arabian Oil Co. (Saudi Aramco) exceeds 15% of Walaa’s gross written premiums (GWP) for 2021, according to a bourse filing.

 

The contract will have a positive impact on the company's 2022 financial results. The one-year insurance coverage started April 1, the insurer added.

 

On March 31, Walaa and Saudi Aramco signed the insurance agreement to provide insurance coverage on energy, property, motor, marine products and others, according to data available with Argaam.

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