Elm awards SAR 75.9M contract to Tawuniya to provide insurance for employees

27/06/2024 Argaam

Elm awards SAR 75.9M contract to Tawuniya to provide insurance for employees

Logo of Elm Co.

Elm Co. awarded a health insurance contract to The Company for Cooperative Insurance (Tawuniya) to provide health insurance for the former's employees.

 
In separate statements to Tadawul today, June 27, both companies clarified that the contract, valued at SAR 75.9 million (VAT inclusive), is valid for one year from the signing date on June 30.
 
 
Khaled Al-Ghunaim has an indirect interest in this deal, being a board member in Elm and Tawuniya.
 
The company stressed that the contract was awarded within the normal course of business, entailing no preferential benefits.
 
Elm indicated that the deal’s financial impact will be reflected between H2 2024 and H1 2025. Meanwhile, Tawuniya expecteda positive financial impact on its 2024 revenues.

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