Arabian Shield: Al-Marai’s plants are fully insured

12/10/2014 Argaam

Arabian Shield Insurance Company was notified on Thursday about a fire accident at one of the Western Bakeries plants of Almarai Company in Jeddah.

The insurance company assured that the plant is fully insured under its coverage and has hired SAMA certified loss adjusters to assess the loss.

The losses resulting from this fire accident will be at least 96.5% reinsured with other reinsurers; the company said in its filing to Tadawul adding that the loss assessment and its financial impact will be reflected on Q4-2014’s financials.

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