Al Sagr, Maharah sign contract to provide medical insurance policy

Al Sagr Cooperative Insurance Co. signed a contract on Sept. 26 with Maharah Human Resources Co. to provide a medical insurance policy covering the company's employees and their families.

In a statement to Tadawul, the company said the contract's value exceeds 5% of the total insurance premiums subscribed, based on the 2023 audited financial statements.

This contract aims to provide medical insurance services to the company's employees and their families for the calendar year from Sept. 28, 2024, to Sept. 27, 2025.

Al Sagr expects the contract to positively impact the company's financial results for 2024, noting that there are no related parties involved.

No preferential treatment was granted, and the contract aligns with the company's usual business activities, the statement added.

According to data available with Argaam, the total premiums subscribed to Al Sagr last year amounted to SAR 471.5 million.