“Malath” Cooperative Insurance Company has signed a strategic partnership agreement with the National Housing Services Company (NHC), aimed at issuing contractor’s liability insurance policies for latent defects, in a move that reflects the company’s expansion into insurance solutions related to the real estate and development sectors.
The company clarified in a statement via “Tadawul” that there is no specific financial value for the agreement at this time, noting that the volume of written premiums will depend on the volume of business and the insurance policies to be issued under the agreement.

The agreement focuses on organizing and supporting mechanisms for issuing contractor’s liability insurance policies covering latent defects, as well as integrating related services, thereby serving various stakeholders in the real estate ecosystem—from developers and contractors to residential unit owners—and enhancing the reliability and quality of real estate projects.
“Malath” expects the positive financial impact of this agreement to be reflected in its results starting in the third quarter of 2026, while confirming that there are no related parties to the agreement, which has a term of one calendar year.
This move comes at a time when the company recorded a 45% year-over-year decline in net profit during the first quarter, reaching 5.5 million riyals, due to a decrease in net investment income, Revenue also fell by 12.5% to 297.5 million riyals, impacted by a decline in the automotive sector’s business.