Saudi Re, Al-Etihad ink SAR 208.7M insurance agreement

Saudi Reinsurance Co. (Saudi Re) signed, on Oct. 6, a reinsurance contract with Al-Etihad Cooperative Insurance Co. at a total value of SAR 208.7 million.

The contract entails providing insurance coverage for the financial dues of non-Saudi workers in the event of delinquency of the private sector entities, Saudi Re said in a statement to Tadawul.

The 12-month contract is expected to impact the company's financial results as of Q4 2024.

The deal included no related parties, the statement added.