Riyadh – Mubasher: Al Sagr Cooperative Insurance Company has officially entered into a substantial insurance agreement with Key Car Rental Company to provide comprehensive coverage for the latter’s vehicle fleet.

The contract, which was formally signed and announced on 28 June 2026, represents a significant transaction for the insurer, with a total value exceeding five percent of Al Sagr’s total gross written premiums as recorded in its 2025 audited financial statements.

The agreement marks a strategic continuation of Al Sagr Cooperative’s operations within the Saudi motor insurance sector.

Under the terms of the disclosure, the contract involves the issuance of comprehensive commercial vehicle insurance policies tailored to meet the requirements of Key Car Rental’s extensive rental fleet.

The operational phase of the contract is scheduled to span one full calendar year. Coverage is set to commence on 1 July 2026 and will remain in effect until 30 June  2027.

This timeline ensures that the insurance services will be active throughout the peak travel and rental seasons of the upcoming year, providing Al Sagr with a steady stream of premium income over the twelve-month duration.

From a financial perspective, Al Sagr Cooperative expects the contract to yield a positive influence on its fiscal performance.

Due to the timing of the agreement, the financial impact is projected to be distributed across two fiscal years, positively affecting the financial results for both 2026 and 2027.

The company’s reliance on its 2025 audited financials to benchmark the contract’s value underscores the scale of this partnership relative to its overall business volume.

In compliance with regulatory standards and corporate governance practices, Al Sagr Cooperative has confirmed that the contract was negotiated and signed within the normal course of its business activities.

The company explicitly stated that no preferential treatment was provided to Key Car Rental during the procurement or signing process. Furthermore, the disclosure confirmed that there are no related parties involved in the transaction, ensuring the independence and transparency of the agreement.

Earlier this week, the listed company received final regulatory approval to launch a specialized cyber insurance product.