Riyadh – Mubasher: Chubb Arabia Cooperative Insurance Company has signed a contract with Larsen & Toubro Arabia to provide engineering insurance risk coverage.
The agreement, which was officially signed and awarded on 23 July 2026, represents a significant addition to the insurer's portfolio.
The contract value exceeds 5% of the company's total insurance revenues as reported in its audited financial statements for 2025.
Under the terms of the agreement, Chubb Arabia will provide comprehensive coverage for engineering-related risks according to the specifications and conditions agreed upon by both parties. The contract is set for a duration of two and a half years.
Management expects the deal to have a positive financial impact on the company’s results during the 2026/2027 period.
Chubb Arabia confirmed that the transaction was conducted within its normal course of business and that no preferential treatment was granted.
The company further stated that there are no related parties involved in the agreement. This contract aligns with the insurer's ongoing operations in the Saudi industrial and engineering insurance sectors.
