‎Alkhaleej Training signs contract with Allianz SF to provide medical insurance services to staff

‎Alkhaleej Training signs contract with Allianz SF to provide medical insurance services to staff

Logo of Alkhaleej Training and Education Co.

Alkhaleej Training and Education Co. announced that it signed, on Sept. 1, a contract with Allianz Saudi Fransi Cooperative Insurance (Allianz SF) to provide medical insurance services to its employees and their families (related party). 

The company explained in a statement on Tadawul that the one-year contract value exceeds 1% of total revenues, according to the audited financial statements for 2022.

The contract’s financial impact will reflect in the company’s financials for 2023 and 2024.

Alkhaleej board member Alwaleed Al Dryaan has indirect interest in the contract, as he is also Allianz SF Chairman. Abdullah Al-Hussaini was also named as related party as he serves in the boards of both companies.

The contract was concluded within the normal course of business and did not grant any preferential benefits, the statement affirmed.