Riyadh – Mubasher: Al Alamiya for Cooperative Insurance Company on Wednesday announced a contract sign off with Panda Retail Company.

Under the contract, Al Alamiya will provide Panda with general insurance services for one year, according to a bourse filing.

The contract’s value is expected to exceed 10% of the annual gross written premiums (GWP) of the insurer’s audited financials for 2019.

Moreover, the deal is expected to reflect positively on Al Alamiya’s financial statements for 2020 and 2021.