Al Alamiya signs insurance contract with Panda

01/10/2019 Argaam

 

Al Alamiya for Cooperative Insurance Co. has inked a contract with Panda Retail Co. to provide general insurance services to the retailer’s staff for one year, the insurer said in a bourse filing.

 

The contract will be effective as of Oct. 1, 2019 and its gross value will exceed 5 percent of the insurer’s gross written premiums (GWPs) for 2018.

 

The relevant financial impact will reflect on the insurer’s financials for 2019 and 2020.

 

There are no related parties involved in the contract.

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