Copart and Al Ahlia Insurance Sign Strategic Agreement

MUSCAT, Oman, April 2, 2017 /PRNewswire/ --

Copart, Inc. (NASDAQ: CPRT), a global vehicle auction company, is proud to announce a new agreement between its subsidiary, Copart Muscat Auctions LLC, and Al Ahlia Insurance Co. SAOC, one of the largest insurance companies in the Sultanate of Oman and an integral part of the global RSA network. Both companies will work together to streamline the motor accident salvage sales process through operational efficiency and engagement with potential buyers, both regionally and globally.

The signing ceremony was attended by Mr. Lloyd East, MD - Al Ahlia Insurance and Regional CEO - RSA (Middle East), Mr. Richard Byford, Claims Director - Al Ahlia Insurance and Mr. Carlos Sabugueiro, CEO - Copart (Middle East, India and Africa).

"We are excited to work with a reputable and successful business like Copart," said East. "In addition to improving our experience with the salvage disposal process, this agreement helps us gain quality vendors and innovative solutions that will benefit the Oman insurance industry in the mid to long term by improving transparency and competition."

Sabugueiro said, "It is an honour to join hands with Al Ahlia (RSA) here in Oman. Our operations are growing in strength and scale. Our buyer network, which includes regular bidders from across the GCC, Europe and Africa, is also increasing."

Al Ahlia has been a frontrunner in launching initiatives that not only strengthen the operations but also benefit the industry. This strategic supply chain initiative is underpinned by efficient systems, professionalism and global reach that will help Al Ahlia better manage the last mile of the claims process.

ABOUT AL AHLIA INSURANCE CO. 

Al Ahlia Insurance Co. is part of the multi-national RSA Insurance Group that has a legacy of over 300 years in insurance and operates in over 100 countries globally. This international legacy brings with it the experience and expertise benchmarked against global standards and product offerings. Recognized as the "Insurer of the Year 2017" and "Oman Insurer of the Year 2011, 2012, 2014 and 2015" at the prestigious MENA Insurance Awards, Al Ahlia Insurance Co. SAOC is one of the oldest amongst the national insurance companies in the non-life insurance sector in Oman. For more information, visit http://www.alahliarsa.com

ABOUT COPART 

Copart, founded in 1982, provides vehicle sellers with a full range of remarketing services to process and sell salvage and clean title vehicles to dealers, dismantlers, rebuilders, exporters and, in some states, to end users. Copart remarkets the vehicles through Internet sales using its VB3 technology. Copart sells vehicles on behalf of insurance companies, banks, finance companies, fleet operators, dealers, car dealerships and others as well as vehicles sourced from the general public. The company currently operates in the United States (http://www.Copart.com), Canada (http://www.Copart.ca), the United Kingdom (http://www.copart.co.uk), Brazil (http://www.copart.com.br), Germany (http://www.Copart.de), the United Arab Emirates, Bahrain, and the Sultanate of Oman (http://www.Copartmea.com), Spain (http://www.Copart.es), the Republic of Ireland (http://www.Copart.ie), and India (http://www.Copart.in). Copart links sellers to more than 750,000 Members in more than 150 countries worldwide through its multi-channel platform. In 2015, Copart was ranked at the top of Deloitte's "The Exceptional 100" list of companies, which reviewed U.S. publicly traded companies based upon a multidimensional approach to measuring financial performance. For more information, or to become a Member, visit http://www.Copart.com . 

Contact
Copart Middle East Corporate Regional Office  
Carlos Sabugueiro, CEO - Middle East, India & Africa
[email protected]

SOURCE Copart Middle East