Wataniya Insurance to Insure Saudi Cement’s Assets, Possessions

Saudi Cement Co. (SACCO), Saudi Arabia’s second-largest cement producer by market value, awarded an insurance contract to Wataniya Insurance Co (WATAN)., it said in a statement to the Saudi bourse today.

Wataniya will start insuring Saudi Cement’s “assets and possessions” starting from today, the cement-maker said. The contract doesn’t include medical insurance, it said. The annual insurance premium on the contract is estimated at 8 million riyals ($2.1 million), Saudi Cement said.

To contact the reporter on this story: Wael Mahdi n Riyadh at wmahdi@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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