CHUBB Arabia renews SAR 52.2 mln insurance contract with Sipchem

01/11/2023 Argaam
Logo of CHUBB Arabia Cooperative Insurance Co.

Logo of CHUBB Arabia Cooperative Insurance Co.

CHUBB Arabia Cooperative Insurance Co. received today, Nov. 1, confirmation from Sahara International Petrochemical Co. (Sipchem) to renew a SAR 52.19 million insurance contract in line with the agreed terms and specifications. 

 

The one-year contract, effective today, has been renewed to provide insurance coverage for property damage and business interruption risks, the company said in a statement to Tadawul. 

 

There are no related parties to the contract.  

 

No preferential treatment has been given under this contract, which falls within the company’s normal business activity. 

 

CHUBB Arabia expects the contract to have a positive financial impact on its results for the fiscal year 2023/24. 

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