Riyadh – Mubasher: CHUBB Arabia Cooperative Insurance Company has signed an insurance contract with Sahara International Petrochemical Company (Sipchem) in order to provide coverage for property damage and business interruption risks.

The agreement’s value is 5% higher than the company's annual sales, according to Chubb’s statement to the Saudi Stock Exchange (Tadawul) on Thursday.

The new deal is valid for one year, starting from 1 November.

The deal is expected to have a positive influence on the company’s financials for 2020.