UCA signs contract with Saudi Binladin Group to extend insurance coverage

30/12/2025 Argaam

UCA said that the insurance coverage contract has a one-year term starting Jan. 1, 2026

United Cooperative Assurance Co. (UCA) signed a contract with Saudi Binladin Group (SBG) for an engineering insurance policy, with a value exceeding 20% of the company’s total insurance premiums, based on the audited financial statements for 2024.

 

The contract was awarded and signed today, Dec. 30, the company said in a statement to Tadawul. The contract has a one-year term starting Jan. 1, 2026.

 

The contract covers extending the insurance coverage for the contractors’ all-risks product related to the Custodian of the Two Holy Mosques’ Grand Mosque expansion project in Makkah.

 

The contract is expected to have a positive impact on 2026 results, the statement said.

 

The agreement was concluded in the ordinary course of business without granting any preferential advantages.

 

There are no related parties to the deal, the statement noted.

 

According to data available with Argaam, UCA recorded total gross written premiums of around SAR 1.15 billion in 2024.

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