Weqaya Takaful said the cancellation of its contract with Saudi Electricity would not adversely impact its business as the contract constituted only five percent of its total revenue.
Weqaya struck a deal with the Saudi electricity supplier in September 2012, under which it provided health cover to non-Saudi staff, and collected SAR 21 million in premiums till now, it said.
The company announced the termination of contract without giving reasons.
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