Logo of Malath Cooperative Insurance Co.
Malath Cooperative Insurance Co. said it was awarded a contract to provide cooperative health insurance services for the employees and family members of Al-Othaim Holding Co. and its subsidiaries, for a period of one year.
In a statement to Tadawul, the insurer said it received the notice of award on Jan. 3.
The contract revenues are expected to be 5% higher than the company’s 2021 gross written premiums (GWPs), Malath said.
The contract is likely to have a positive impact on the company's financials for 2023, the statement noted, adding that there are no related parties.
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