Riyadh – Walaa Cooperative Insurance Company has signed an insurance agreement with Saudi Arabian Oil Company (Aramco) at a value exceeding 5% of Walaa Cooperative's gross written premiums in 2021.
Upon the one-year agreement, Walaa Cooperative will provide insurance services for Aramco’s energy, property, motor, marine, and other products, according to a bourse disclosure on Sunday.
The contract, effective from 1 April this year, will have an impact on the insurer’s financial results for 2022.
It is worth noting that in 2021, the two companies penned an insurance agreement for one year.
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