Rasan unit wins Musaned tender to provide domestic worker insurance

Logo of Rasan Information Technology Co. 

Tameeni Electronic Insurance Broker Co., a subsidiary of Rasan Information Technology Co., won a tender to provide insurance products for domestic workers via the Musaned platform, developed and operated by Takamol Holding, the company said in a statement to Tadawul.

Service delivery will begin after the contract is signed with Takamol Holding and all necessary procedures are completed.

For more news on listed companies

Rasan expects the contract to have an impact exceeding 5% of its total revenue, based on its latest audited annual financial statements. The agreement is expected to be signed on Aug. 15, the statement said.

The deal covers the provision of mandatory insurance products for domestic workers through Musaned. The project aims to strengthen the insurance protection framework for domestic worker contracts by offering a comprehensive product that provides the required coverage in line with applicable laws and the standardized format of the compulsory domestic labor insurance policy.

The company said no related parties are involved in the deal.

Rasan also noted that Musaned is an initiative of the Ministry of Human Resources and Social Development that seeks to regulate and streamline domestic labor recruitment.

According to data available on Argaam, the company’s revenue stood at SAR 358.33 million in 2024, of which 5% represents SAR 17.91 million.