Dhahran Mall Fire: Arabian Shield Insurance Finalizes SR250 Million Settlement
Arabian Shield Cooperative Insurance Co. announced on Thursday that it has reached a final settlement agreement with Arabian Centres Co. over an insurance claim linked to the 2022 fire at Dhahran Mall in Saudi Arabia’s Eastern Province.
Settlement Details
➤ The settlement was agreed at SR250 million ($66.7 million).
➤ This payment is the final compensation for all damage and losses from the fire. Trending: Popular Saudi Burger Chain Hamburgini Shuts Down After Food Safety Scandal
The Dhahran Mall Fire
■ The fire broke out on the morning of May 13, 2022, at Dhahran Mall in the Eastern Province city of Dhahran.
■ Civil Defense teams were able to control the fire.
■ The mall sustained damage, but no major casualties occurred.
Impact on Arabian Shield
🔘 Arabian Shield said the settlement will have no material financial impact on the company.
🔘 The company highlighted that its partnerships with strong global and local reinsurers helped in reaching the final deal. Recommend: Procedure to apply for Saudi Work visa in 2025
Case Closure
✓ The company added that the settlement is in the best interests of all parties.
✓ This agreement officially closes the insurance case, which had remained pending since the 2022 fire incident.
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| Dhahran Mall Fire: Arabian Shield Insurance Finalizes SR250 Million Settlement |