Saudi insurer Tawuniya renews contract with Saudia
Tawuniya, the Company for Cooperative Insurance, has signed a renewal contract to provide health insurance services for employees and family members of Saudi Arabian Airlines.
The contract value exceeds 5% of Tawuniya’s gross written premiums in 2018, the company said in a filing with the Saudi stock exchange on Tuesday (Feb 18).
The insurer’s GWP in 2018 was 7.641 billion riyals ($2.04 billion).
The contract with Saudia is for one year starting March 1.
Tawuniya said the contract is expected to have a positive financial impact on its gross written premiums and financial results for 2020.
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