Malath says COVID-19 measures might have limited impact on new insurance policy sales

13/04/2020 Argaam

 

Malath Cooperative Insurance Co.’s (Malath) daily operations are still running amid the government’s precautionary measures to contain COVID-19 outbreak.

 

The company said in a statement on Tadawul that individual policy holders account for only 14.3% of the gross written premiums in 2019.

 

The company expected the partial and complete curfew in some regions and governorates to have a limited impact on the sales of new insurance policies to individual customers, especially those which are not applied to online.

 

The company added that it is providing 24/7 service to all customers through digital platforms.

 

The company added that it is unable to assess the financial impact of the precautionary measures at present and any further developments will be announced in due course.

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