CHUBB Arabia renews contract with Sipchem

02/11/2025 Argaam
CHUBB Arabia provides coverage for property damage and business interruption risks to Sipchem

CHUBB Arabia provides coverage for property damage and business interruption risks to Sipchem

CHUBB Arabia Cooperative Insurance Co. received a renewal confirmation from Sahara International Petrochemical Co. (Sipchem) for the insurance coverage for one year, in accordance with the terms and conditions agreed upon.

 

The contract includes providing insurance coverage for property damage and business interruption risks, with its value exceeding 10% of the total insurance revenues according to 2024 audited financials.

 

The insurer said in a filing to Tadawul that the contract is expected to have a positive impact on the company's financial results for 2025/26.

 

The contract was signed on Oct. 30 and awarded today, Nov. 2, the company said, adding that the contract includes no preferential treatment and it falls within its normal business activity.

 

According to Argaam data, the company's insurance revenues exceeded SAR 383.4 million in 2024.

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