Logo of Gulf General Cooperative Insurance Co.
Gulf General Cooperative Insurance Co. announced that it was awarded on May 25 a comprehensive insurance services contract by Al Wefaq Transportation Solutions for its vehicle fleet.
The one-year contract is effective from May 26, the company said in a bourse filing.
The contract value is 10% higher than the company's total revenue, according to the audited financial statements for 2021, the insurer added.
This contract is expected to have a positive financial impact on the company's financial results, starting from the second quarter of 2022.
There are no related parties to the agreement, the company added.
Comments
{{DisplayName}}
{{ElapsedTime}}