Chubb Insurance, Sipchem Co-renew Contract 

Sahara International Petrochemical Company (Sipchem) has authorized Chubb Arabia for Cooperative Insurance, to renew a contract worth SR52.8 million for insurance covering the risks of property damage and business interruption, in accordance with the agreed terms and conditions, for a one-year period, beginning October 31, 2021.

The arrangement is projected to boost the company’s financial results in 2022.

There are no other parties involved.

Sipchem affirms that no special treatment has been granted in this contract, and that it is part of the company’s routine operations.