IssuerAnnouncementDetailsV2Portlet
The United Cooperative Assurance Company (UCA) announces signing an insurance agreement with the Saudi BinLadin Group to provide insurance coverage.
Element List | Explanation |
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Introduction | The United Cooperative Assurance Company “UCA ”announces the signing of an agreement with the Saudi Binladin Group Ltd. for an engineering insurance coverage. |
Date of Announcement of the Award | 2024-12-03 Corresponding to 1446-06-02 |
Contract Subject Matter | Engineering Insurance Coverage. |
The Entity with Which the Contract was Signed | Saudi BinLadin Group Ltd. |
Date of Signing the Contract | 2024-12-03 Corresponding to 1446-06-02 |
Contract Value | The contract value exceeds 5% of the total gross written premiums as per the audited financial statements for the year 2023. |
Contract Details | Contractors all risks insurance coverage for the Jeddah Economic Company Tower project. |
Contract Duration | Forty-two months effective from 02 December 2024 . |
Financial Impact and the Relevant Period | The contract is expected to have a positive impact on the company's financial results starting from the year 2025. |
Related Parties | There are no related parties. |
Additional Information | The company confirms that the agreement was executed within the normal course of business and no preferential advantages were granted. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.