Saudi Al Alamiya awarded insurance contract from Panda Retail

Under the contract, Al Alamiya will provide Panda with general insurance services for one year

  
People are seen in the Mall of Dhahran, Saudi Arabia, December 17, 2018. Image used for illustrative purpose.

People are seen in the Mall of Dhahran, Saudi Arabia, December 17, 2018. Image used for illustrative purpose.

REUTERS/Hamad I Mohammed

Riyadh – Al Alamiya for Cooperative Insurance Company on Wednesday announced a contract sign off with Panda Retail Company.

Under the contract, Al Alamiya will provide Panda with general insurance services for one year, according to a bourse filing.

The contract’s value is expected to exceed 10% of the annual gross written premiums (GWP) of the insurer’s audited financials for 2019.

Moreover, the deal is expected to reflect positively on Al Alamiya’s financial statements for 2020 and 2021.

Source: Mubasher

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