CHUBB Arabia Cooperative Insurance Co. Announces Contract Sign Off with KHAIR INORGANIC CHEMICAL INDUSTRIES CO. (INOCHEM).
|Introduction||Chubb Arabia Company announces the signing of a contract to provide various insurance coverages related to the construction project of Khair Inorganic Chemical Industries Co. (Inochem)|
|Date of Announcement of the Award||2020-01-19 Corresponding to 1441-05-24|
|Contract Subject Matter||Provide various insurances related to the construction project of Khair Inorganic Chemical Industries Co. (Inochem)|
|Date of Signing the Contract||2020-01-19 Corresponding to 1441-05-24|
|Contract Value||Total Gross Written premium is SAR 14,808,195 for this contract. This amount is more than 5% of the total revenue of Chubb Arabia as per the audited financial statements for 2018.|
|Contract Details||Chubb Arabia will provide various insurance coverages related to Khair Inorganic Chemical Industries Co. (Inochem) construction project of a Soda Ash & Calcium Chloride production complex at Ras El-Khair Industrial City, Kingdom of Saudi Arabia|
|Contract Duration||Project period from 15/01/2020 to 01/02/2023.|
|Financial Impact and the Relevant Period||The financial impact of the contract will be appearing in the financial results for the first quarter of 2020|
|Related Parties||There are no related parties|
|Additional Information||The Company hereby confirms that no preferential treatment was given on this policy and it is within the usual business activity of the Company|
The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.