Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company has renewed a SAR 22.32 million medical insurance contract with Fakeeh Care Group for one year effective as of 13 July.

The contract value represents more than 5% of the insurer’s revenues as per the last financial statements of 2019, according to a bourse disclosure on Tuesday.

Under the deal, Saudi Enaya will provide medical insurance services to the group’s employees and their families.

Moreover, the transaction is likely to have a positive impact on the insurer’s financials, the statement concluded.