Walaa Cooperative Insurance signs insurance agreement with Aramco

Walaa Cooperative Insurance Company announced on Sunday the signing of insurance agreement with Saudi Arabian Oil Company (Aramco) for providing insurance coverage on Energy, Property, Motor, Marine and others.

The contract value exceeds 5% of the gross written premiums of the company for 2021, the company said in a statement.

Walaa Cooperative Insurance Company announces that it has received on Thursday 31/03/2022 (Corresponding to 28/08/1443H) the confirmation from Saudi Arabian Oil Company (Aramco) to provide insurance coverage starting from 01/04/2022.

The contract duration is one year starting from 01/04/2022.

The financial impact of the policy will appear on the financial results of the year 2022 and there is no related party.

“The Company hereby confirms that no preferential treatment was given on this policy and it is within the usual business activity of the Company.” it concluded.