Alinma Tokio receives appeal letter from Al-Morooj International

29/03/2020 Argaam

 

Alinma Tokio Marine Co. (Alinma Tokio) announced on Sunday it received an appeal letter from Al-Morooj International in the warehouse fire case.

 

The response to the appeal letter will be submitted at the first appeal session, the insurer said in a bourse filing, adding details will be announced in due course.

 

On Sept.5, 2017, Alinma Tokio announced a fire broke out in the warehouses of Al Morooj in Jeddah. By mid-September, the company had received an actuarial report putting preliminary losses from the fire at SAR 78 million. 

 

However, the General Secretariat of Committees for Resolution of Securities Disputes dismissed the lawsuit filed by Al-Morooj International in December 2019 due to the lack of insurance coverage and violation of the policy guarantees.

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