Saudi firm Najm inks accident management deal with UAE’s Saaed company

Saaed’s CEO Ibrahim Yousef Ramel (left) & Najm’s CEO Mohammad Al Suliman (right) during agreement signing in Riyadh
Updated 19 November 2019

Saudi firm Najm inks accident management deal with UAE’s Saaed company

  • Al-Suliman stressed the importance of the insurance sector as a major component of public life, a key contributor to the non-oil local economy in the Kingdom, as well as a main target for enhancing the quality of life as outlined in Saudi Vision 2030

RIYADH: Saudi traffic insurance entity Najm Insurance Services and Emirati traffic control company Saaed have signed an agreement in order to improve accident management and vehicle insurance services in Saudi Arabia and the UAE.
They signed the agreement in Riyadh on Sunday in the presence of Najm’s CEO Mohammad Al-Suliman and Saaed’s CEO Ibrahim Yousef Ramel.
Commenting on the partnership Al-Suliman said: “This agreement forms a starting point for fruitful cooperation between the two nations in the traffic systems sector.”
He added: “Saeed’s work complements Najm’s; where Najm is specialized in vehicle insurance services, Saeed possesses a solid expertise in accident management, which forms an opportunity to achieve a beneficial knowledge exchange, and result in a successful liaison that adds value to the insurance sectors of the two nations.”
Al-Suliman stressed the importance of the insurance sector as a major component of public life, a key contributor to the non-oil local economy in the Kingdom, as well as a main target for enhancing the quality of life as outlined in Saudi Vision 2030.

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Najm Insurance Services, a national company established in 2007 as a result of cooperation between the Saudi Arabian Monetary Authority and the General Authority of Traffic, aims to facilitate road traffic activity and support the vehicle insurance industry in the Kingdom.

“Owing to the support provided by the Saudi Monetary Authority (SAMA) and its partnership with the General Authority of Traffic, Najm is keen to develop its services, in particular the vehicle insurance sector, which forms its key mandate and the second largest insurance division in the Kingdom, with 32 percent of all insurance activity,” he told Arab News, adding that Najm had become a role model for other insurance services.
Ramel expressed his delight at signing this agreement, which reiterates the significance of integration to ensure customer satisfaction, enhance the position of both entities and raise their contribution towards achieving an improved quality of life in Saudi Arabia and the UAE.
“The cooperation between the two entities will add value and form a strong basis for a bright future and the development targets of Saudi Arabia and the UAE,” he said.


Red Sea cruise ships to set sail from Saudi Arabia on Aug.27

Updated 12 August 2020

Red Sea cruise ships to set sail from Saudi Arabia on Aug.27

  • Cruise ships are equipped with large theaters which will put on productions for entertainment
  • They also have gyms, swimming pools and a video games area

RIYADH: Cruise ships will set sail from the Red Sea coast in Saudi Arabia for the first time on Aug. 27, Saudi Press Agency (SPA) reported on Wednesday.
The ships are part of the Saudi Tourism Authority’s (STA) efforts to highlight the Red Sea’s tourist treasures.
The cruise ships will have a number of private restaurants on board and some rooms will have a balcony that overlooks the Red Sea whilst others will have a view of it.
Cruise ships are equipped with large theaters which will put on productions for entertainment and small markets where souvenirs can be bought. They also have gyms, swimming pools and a video games area.