LIVA Insurance inks contract with Ceer

Liva Insurance Co. signed today, Oct. 1, a contract with Ceer, Saudi Arabia's first electric vehicle brand, to provide insurance services for construction risk coverage (excluding energy risks), valued at over 5% of total insurance revenue according to the audited financial statements for 2023.

In a statement to Tadawul, the insurer said that the contract is effective from Oct. 1, 2024, until Nov. 30, 2026.

The contract is expected to have a positive financial effect on the company’s financials for 2024 and 2025, the company added.

No related parties are included in the deal, the company noted, confirming that the contract is in the ordinary course of business and does not confer any preferential benefits.