Chubb Arabia Cooperative Insurance Company announces that it has received the renewal confirmation of the insurance contract from Sahara International Petrochemical Company (SIPCHEM) for the Insurance coverages, in accordance with the terms and conditions agreed upon.
Date of Announcement of the Award
2020-11-01 Corresponding to 1442-03-15
Contract Subject Matter
Providing Insurance coverage for Property Damage and Business Interruption Risks
Date of Signing the Contract
2020-11-01 Corresponding to 1442-03-15
Contract Value
SAR 48.7 million.
Contract Details
Renewal the contract for the Insurance coverage for property damage and business interruption risks, in accordance with the terms and conditions agreed upon.
Contract Duration
For one year from 31/10/2020.
Financial Impact and the Relevant Period
The contract is expected to have a positive impact on the company's financial results for 20202021.
Related Parties
There are no related parties
Additional Information
The company hereby confirms that no preferential treatment has been given in this contract and that it is within the normal business activity of the company
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