Riyadh — Mubasher: Chubb Arabia Cooperative Insurance Company has received confirmation to renew an insurance contract with Sahara International Petrochemical Company (Sipchem) for a duration of one year, according to a bourse disclosure.
The agreement was penned on 1 November 2026 and covers property damage and business interruption risks under agreed terms and specifications.
The contract value exceeds 5% of Chubb Arabia’s total insurance revenue according to the audited financial statements for the 2025 fiscal year.
Chubb Arabia stated that the contract was awarded as part of its normal business activities and confirmed that no preferential treatment was granted during the renewal process.
The insurer expects the agreement to have a positive financial impact on its results for the 2026/2027 period.
The disclosure further noted that there are no related parties involved in the transaction.
