Al Alamiya Cooperative Insurance Co. has inked an agreement with Alothman Holding to provide health insurance services to the company's staff and their dependents, the Saudi insurer said in a bourse filing.
The gross value of the agreement will exceed 5 percent of Al Alamiya's gross written premiums (GWPs) for FY17.
The agreement will last for one year as of Dec. 12, 2018, and will have a positive impact on the insurer's financials for FY18 and FY19.
No related parties are involved in the deal, the statement added.
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