AICC, Cenomi Centers settle Dhahran Mall fire claim for SAR 250M

Logo of Arabia Insurance Cooperative Co. (AICC)

Arabia Insurance Cooperative Co. (AICC) announced today, Aug. 28, reaching a final settlement with Arabian Centers Co.’s (Cenomi Centers) over the Dhahran Mall fire claim, agreeing on SAR 250 million to cover all damages and losses.

In a Tadawul filing, the insurer said the settlement will have no material financial impact on its results.

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The strong ties with international and local reinsurers played a key role in securing the agreement, which serves the interests of all parties, the statement added.

AICC had earlier disclosed in May 2022 that it received notice of a fire at Cenomi Centers’ Dhahran Mall. The blaze was limited to the mall’s western expansion, with less than 10% of total leasable space affected.