The Company for Cooperative Insurance, or Tawuniya, has signed with the Saudi Ministry of Hajj and Umrah to provide insurance services for foreign umrah pilgrims.
The insurer said in a filing with the Saudi stock exchange on Thursday (Dec 12) that the agreement, on a “co-insurance” basis with the insurance sector, will be for four years.
“The contract revenues are expected to be greater than 5% of the 2018 annual gross written premium of The Company for Cooperative Insurance (Tawuniya),” said the insurer.
Tawuniya’s GWP for 2018 reached 7.64 billion Saudi riyals ($2.04 billion).
In a tweet on its official account, the Saudi hajj and umrah ministry confirmed Tawuniya would provide insurance for “expat umrah pilgrims”.
The ministry said the insurance of foreign umrah pilgrims will be linked to their visa, and includes coverage of accidental accidents, delay and cancellation of trips, accidental deaths resulting from accidents, and repatriation of the bodies of pilgrims who die in Saudi Arabia.
The ministry also quoted Tawuniya CEO Abdulaziz bin Hadsan Al-Bouq as saying that the insurance covers an amount of 100,000 riyals per person.
Local media outlet Arab News cited the ministry’s general supervisor of media, Ayman Al-Arfaj, as saying that the insurance will cost 189 riyals per person, which will be paid to the insurance company and will cover thirty days.
1,386,183 pilgrims have performed the umrah since the start of the season in Muharram that coincided with August 31, according to data from the ministry of hajj and umrah.
The ministry said in August that it aims to issue 10 million visas for this umrah season, up about 30% from around 7.6 million in the 2018-2019 season. The Kingdom is aiming for 30 million umrah pilgrims by 2030.
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