Gulf Union Alahlia renews health insurance deal worth over 5% of GWPs

02/06/2025 Argaam
Logo ofGulf Union Alahlia Cooperative Insurance Co.

Logo of Gulf Union Alahlia Cooperative Insurance Co.

Gulf Union Alahlia Cooperative Insurance Co. signed a contract with Saeed Raddad Group (SRACO) to renew providing cooperative health insurance services to its employees and their families for one Gregorian year.

 

In a Tadawul statement, the insurer said that the contract, effective June 1, 2025, is valued at more than 5% of the gross written premiums (GWPs) based on 2024 audited financial statements.

 

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The contract is expected to have a positive impact on Gulf Union Alahlia's financial results for 2025 and 2026, the statement said, adding that there are no related parties to the deal.

 

The company's GWPs reached nearly SAR 975.55 million in 2024, according to data available with Argaam.

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