Malaz and NHC to issue defect insurance
Mahat Insurance Co. has signed a partnership agreement with the National Housing Company (NHC) to provide insurance policies for contractor defect coverage. The aim is to facilitate and support the issuance of these policies to benefit developers, contractors, and property owners. The company anticipates that this agreement will have a positive financial impact beginning in the third quarter of 2026. The agreement, which is valid for one year, involves no related parties. This announcement comes at a time when Malath recorded a 45% decline in its profits in the first quarter of the year, primarily due to a decrease in investment income.
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