| Element List | Explanation |
|---|---|
| Introduction | Further to the Company's announcement dated 10/02/1447, corresponding to 04/08/2025, regarding a claim related to Al-Rashed Group, Chubb Arabia Cooperative Insurance Company announces the settlement of Al-Rashed Group's claim for a fire accident at a factory located in the Third Industrial City in Dammam, which occurred on 17/01/1447H, corresponding to 12/07/2025G. |
| Date of Posting the Previous Announcement of Development on Saudi Exchange’s Website | 2025-08-04 Corresponding to 1447-02-10 |
| Hyperlink to the Previous Announcement | Click Here |
| Change on the Development | The Company reached an agreement with Al-Rashed Group on 26/07/2026 (corresponding to 12/02/1448H) to settle their claim for a total net amount of SAR 42,008,241 This loss is adequately covered under the Company’s reinsurance arrangements. The related reserve was recorded in the 2025 fiscal year and will have no financial impact on the current fiscal year. |
| Financial Impact on the change | None. |
Addendum Announcement from CHUBB Arabia Cooperative Insurance Co. in regards to to a claim belonging to Al Rashid group
AI Summary
- Chubb Arabia Cooperative Insurance Co. reached an agreement to settle a fire accident claim for Al-Rashed Group for a total net amount of SAR 42,008,241.
- The claim relates to a fire at a factory in the Third Industrial City in Dammam that occurred on July 12, 2025.
- The company stated there is no financial impact on the current fiscal year as the loss is covered by reinsurance and reserves were recorded in 2025.
