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Gulf Union Alahlia Cooperative Insurance Co. has renewed its contract with Al Rushaid Group to provide health insurance services to the group's employees and their family members for one year starting October 15, 2026. The contract is valued at more than 5% of the insurer's gross written premiums (GWPs) based on its 2025 audited financial results, with no related parties involved in the transaction.
With Gulf Union Alahlia's 2025 GWPs reaching over SAR 1 billion, the 5% threshold represents approximately SAR 50.15 million. This deal provides clear earnings visibility and revenue stability for the company over the coming financial cycles, strengthening its commercial portfolio within the Saudi health insurance market.
The contract is expected to positively impact Gulf Union Alahlia's financial results for 2026 and 2027. Investors will be monitoring the company's upcoming earnings reports to assess how this renewed deal contributes to overall premium growth and operational margins.
