Sources: Al Marai’s fire losses estimated at SAR 800m

09/12/2014 Argaam

The estimated losses of the fire accident at one of the Western Bakeries plants of Almarai Company in Jeddah are SAR 800m ; according to insurance sources.
 

The losses include construction and equipment damage as well as the lost production losses; as reported by Inside FAC insurance magazine.


According to the magazine; Arabian shield is the insurance company of the plant and Swiss Re is the main reinsurer with a reinsurance value of 20%.


According to Argaam; Al Marai announced in October 2014 a fire at one of the Western Bakeries plants in Jeddah.

The company started to estimate the losses with the insurance company late November.

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