RIYADH: Wataniya Insurance Co. has won an SR53.6 million ($14 million) deal to provide insurance coverage to NEOM’s tunnel infrastructure, one of the world’s largest transportation and infrastructure projects.
The Saudi-listed firm said in a bourse filing that the Contractors’ All Risk insurance contract was awarded by Samsung C&T Corp. Saudi Arabia.
In a separate filing, the insurer reported that its losses widened by 44 percent to SR37 million in the first half of 2022, as it incurred higher claims of SR199 million.