Al Alamiya for Cooperative Insurance Co. signed a contract today, Sept. 30, with Panda Retail Co. to provide general insurance services, the insurer said in a bourse statement.
The value of the one-year contract, effective Oct. 1, 2020, exceeds 10% of Al Alamiya’s annual gross written premium according to the annual approved financial statements for FY 2019.
The contract will have a positive impact on its financial results for 2020 and 2021, the statement said, adding there are no related parties.
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