The United Cooperative Assurance Company (UCA) announces signing an insurance agreement with the Saudi BinLadin Group to provide insurance services.

The United Cooperative Assurance Company (UCA) announces signing an insurance agreement with the Saudi BinLadin Group to provide insurance services.

Element List

Explanation

Introduction

The United Cooperative Assurance Company (UCA) announces the signing of an extension of insurance agreement with the Saudi BinLadin Group for extending an engineering insurance coverage.

Date of Announcement of the Award

2024-03-30 Corresponding to 1445-09-20

Contract Subject Matter

Engineering Insurance Coverage.

The Entity with Which the Contract was Signed

Saudi BinLadin Group

Date of Signing the Contract

2024-03-30 Corresponding to 1445-09-20

Contract Value

The contract value exceeds 25% of the Insurance Revenues of the company as per latest audited financial statements for the year 2023.

Contract Details

Contractors all risks insurance coverage extension for the Custodian of the Two Holy Mosques' extension of Haram project in Makkah

Contract Duration

One year and nine months with effect from 01 April 2024

Financial Impact and the Relevant Period

Expected to have a positive impact on the financial result of the company for the period ending 2024 and 2025.

Related Parties

There is no related party.

Additional Information

The United Cooperative Assurance Company (UCA) confirms that the contract is in the ordinary course of