Walaa Insurance Signs Contract to Provide Insurance Coverage for STC

Walaa Cooperative Insurance Company announced on Thursday the signing off an insurance policy with Saudi Telecom Company (STC) to provide General insurance coverage.

The contract value is estimated to be SAR19 million. The contract duration is            six years.

The date of announcement of the award is 15.12.2021

The company indicated on Tadawul on Thursday that the contract is expected to have a positive impact on the financial results of 2021.

The Board member Mr. Jameel Abdullah Al Molhem has interest in the policy as he is Board member of both Saudi Telecom Company and Walaa Cooperative Insurance Company.