Malath secures health insurance contract from Al-Othaim Holding

04/01/2023 Argaam
Logo ofMalath Cooperative Insurance Co.

Logo of Malath Cooperative Insurance Co. 

Malath Cooperative Insurance Co. said it was awarded a contract to provide cooperative health insurance services for the employees and family members of Al-Othaim Holding Co. and its subsidiaries, for a period of one year.

 

In a statement to Tadawul, the insurer said it received the notice of award on Jan. 3.

 

The contract revenues are expected to be 5% higher than the company’s 2021 gross written premiums (GWPs), Malath said. 

 

The contract is likely to have a positive impact on the company's financials for 2023, the statement noted, adding that there are no related parties.

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