CHUBB Arabia: Al Rashid Group fire claim under investigation

04/08/2025 Argaam
Logo ofCHUBB Arabia Cooperative Insurance Co.

Logo of CHUBB Arabia Cooperative Insurance Co. 

CHUBB Arabia Cooperative Insurance Co. announced that it received on Aug. 3 the preliminary report from the appointed loss adjuster on a claim pertaining to a fire incident at one of Al Rashid Group’s factories located in the 3rd Industrial City, Dammam, on July 12, 2025.

 

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In a statement to Tadawul, the insurer said that the claim is still under investigation, which will determine the extent of the company’s liability.

 

At this stage, the loss adjuster recommended a precautionary loss reserve amount that may have an impact on the current fiscal year results.

 

The company also confirmed that it has in place adequate reinsurance to protect the exposure, and will announce any further developments related to this case in due course.

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