Al-Ahlia Insurance, Seder Group ink SAR 8.5 mln coverage deal

02/08/2015 Argaam

Al-Ahlia for Cooperative Insurance Co. last month signed a contract to provide health insurance cover for one year with Seder Group Trading and Contracting Co. for an annual premium of SAR 8.5 million.

 

The company said in a statement to Tadawul that though Seder is considered as “a related party” as its board member Abdulaziz bin Saud Al-Blehed also sits on Seder’s board, no preferential treatment was given to the client.

 

Al-Ahlia expects the contract, which came into effect from July 10, to have a positive financial impact on the company’s results in 2015.

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