Alinma Tokio says fire erupts at Jeddah’s Al Murooj International

07/09/2017 Argaam

Alinma Tokio Marine Co. said on Thursday a fire broke out on Sep. 5 at Jeddah-based Al Murooj International Co., which is fully insured by the company.

 

The insurer appointed experts authorized by the Saudi Arabian Monetary Authority (SAMA), the Kingdom’s central bank and insurance market regulator, to assess the damage.

 

The losses arising from the fire are reinsured, and the insurance firm only retains 0.51 percent of these losses.

 

The financial impact and estimated compensation for the incident will reflect on Q3 2017 financial, Alinma Tokio added.

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