Salama expects minimal financial impact from Jeddah fire claim

07/10/2024 Argaam
Logo ofSalama Cooperative Insurance Co.

Logo of Salama Cooperative Insurance Co.

Salama Cooperative Insurance Co. said that the financial impact on the company from the claim related to the fire at the Jeddah International Market is expected to be limited.

 

In a statement to Tadawul today, Oct. 7, the company noted that the policy is reinsured with local and international reinsurance companies.

 

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The extent of the damage will be determined after the incident inspection and related investigations are completed.

 

According to data available with Argaam, Salama received a notice, on Oct. 6, regarding the fire that broke out on Sept. 29 at the Jeddah International Market in Al Rawdah district.

 

The company appointed a licensed loss assessor from the Insurance Authority (IA) to evaluate the damage caused by the fire immediately after receiving the notice.

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