UCA signs contract with Theeb for vehicle insurance coverage

26/12/2024 Argaam
Logo ofUnited Cooperative Assurance Co. (UCA)

Logo of United Cooperative Assurance Co. (UCA)

United Cooperative Assurance Co. (UCA) signed a contract with Theeb Rent a Car Co. to provide vehicles insurance coverage.

 

In a statement to Tadawul, UCA said the contract will be effective for one year, starting from Jan. 1, 2025, and is valued at over 5% of gross written premiums, based on 2023 audited financials.

 

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The insurer expects the contract to positively impact its financial results for 2025, adding that no related parties are involved.

 

UCA emphasized that the agreement is part of its regular business operations and does not involve any preferential benefits.

 

According to data available with Argaam, the company’s gross written premiums for 2023 amounted to SAR 1.02 billion.

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