Arabian Shield Cooperative Insurance Co. (Arabian Shield) on Aug. 22 signed an agreement with the National Water Company (NWC) worth SAR 104.5 million to provide health insurance services to its employees and their families, the insurer said in a statement to Tadawul today.
The one-year contract came into effect on Aug. 25 and it is expected to have a positive financial impact on the firm’s Q3 results.
Arabian Shield board member Abdullah Bin Abdulrahman Al-Obeikan also serves as board member at NWC, the statement said.
The deal is still pending the general assembly’s approval, it added.
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