TAWUNIYA-INSURANCE
21.4.2022 16:14:10 CEST | Business Wire | Press release
Standard & Poor's Global Rating Agency has assigned Tawuniya Insurance Company an "A-" rating and outlook "stable", which is one of the highest financial ratings amongst the insurance companies in the Kingdom of Saudi Arabia, Middle East, and North African.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220421005687/en/
This rating reflects Tawuniya's improving financial performance for the last three consecutive years from 2019 to 2021, as shown in the S&P report. In 2021, Tawuniya achieved positive results, including a 13% growth compared to last year in GWP reaching 10.2 billion Saudi riyals, and increasing the company's market share to 25% accordingly. Total assets was 14.6 billion Saudi riyals, total equity was 2.1 billion Saudi riyals, and the net profit before Zakat was 350 million Saudi riyals, as well as the net investment income of 302.8 Saudi million riyals.
As stated in its report which was issued on April 19, 2022, Standard & Poor's assigned Tawuniya a (A-) rating based on the strengths that the company has, most notably the strong competitive position, the capital adequacy ratio, and the strong financial performance supported by the profitable underwriting and investment income.
Standard & Poor's confirmed that the stable outlook reflects its view that Tawuniya will maintain its strong operating performance and competitive position, while gradually improving its capital adequacy over the next two years.
Mr. Abdulaziz H. Al-Boug, Tawuniya’s CEO, expressed his pride in this global rating, which confirms the company's financial strength and capabilities to provide high standard insurance protection to all individuals and corporates, as well as its ability to fulfill its obligations towards all customers and stakeholders.
"The rating assigned by S&P also reflects Tawuniya’s position as the leading company in the Saudi insurance market, the company's strategic vision, its ability to develop programs and services, and its possession of a diversified insurance portfolio, in addition to its possession of a strong IT infrastructure that helps Tauwniya succeed and grow year after year," Al-Boug added.
*Source: AETOSWire
View source version on businesswire.com: https://www.businesswire.com/news/home/20220421005687/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Nexo Championship Returns to Aberdeenshire as Nexo Expands DP World Tour Footprint20.5.2026 16:00:00 CEST | Press release
Nexo renews its Nexo Championship title partnership for the second year in 2026. The Nexo Championship, with a newly increased prize fund of $3 million, will return to Aberdeenshire on August 20-23, 2026. The tournament concludes the 2026 Closing Swing on the Race to Dubai schedule. Nexo, the premier digital assets wealth platform, and the DP World Tour have confirmed a renewed agreement that will see the Nexo Championship return to Trump International Golf Links in Aberdeenshire from August 20-23, 2026. The tournament will serve as the concluding event of the DP World Tour’s Closing Swing – the final event of the first phase of the 2026 Race to Dubai. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260520684059/en/ Nexo Championship 2026 In 2025, Nexo joined the DP World Tour as its Official Digital Wealth Platform through 2027 before soon adding the title rights at the Nexo Championship. For its part, the Nexo Championship
Visa Threats Report: As Network Security Strengthens, Criminals Accelerate Shift to AI-Enabled Social Engineering20.5.2026 15:16:00 CEST | Press release
Spring 2026 Biannual Threats Report shows how strengthening payment security is pushing criminals toward AI-enabled social engineering Visa (NYSE: V), a world leader in digital payments, today released its Spring 2026 Biannual Threats Report, revealing that scams have become the fastest-growing source of consumer harm as criminals increasingly use artificial intelligence and social engineering to manipulate people into authorizing payments themselves. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260520153924/en/ The report draws on intelligence from Visa’s global network and underscores a critical shift in the fraud landscape: while core payment security continues to strengthen at the network level, criminals are redirecting their efforts away from technical system compromises toward exploiting human trust. From July to December 2025, Visa identified nearly $1 billion in scam-related activity, making scams the single large
1GLOBAL Launches Verint Communications Analytics to Enhance Cloud Compliance for Financial and Regulated Industries20.5.2026 15:00:00 CEST | Press release
1GLOBAL now offers transcription with insights into mobile calls in 10 countries on Verint Communications Analytics, built specifically for financial markets and trading environmentsStreamlines the compliance investigation and mobile call monitoring process through transcription and analysisSupports transcription and translation from 30+ languages into English with near real-time processing 1GLOBAL, a pioneer in global telecommunications solutions, today announced its launch of Verint® Communications Analytics, a key offering within Verint Financial Compliance (VFC) providing mobile call transcription and analytics capabilities. Verint Communications Analytics has been designed to help financial institutions and regulated organizations accelerate productivity when monitoring voice calls (including mobile), identifying behavioral patterns, querying data intentionally by topic, risks, keywords or sentiment, identifying misuse and reducing regulatory risk. Verint Communications Analytics
Xsolla Expands Nordic Presence With Industry Engagements Across Sweden, Including Official Sponsorship of Nordic Game 202620.5.2026 15:00:00 CEST | Press release
Coordinated Activations Across Sweden Underscore Xsolla’s Continued Investment In The Nordic Games Ecosystem, Bringing Developers, Partners, And Creators Together Xsolla, a global video game commerce company that helps developers launch, grow, and monetize their games, today announces a comprehensive program of events and activations across Sweden throughout May 2026, including its official sponsorship of Nordic Game 2026. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260520833786/en/ Graphic: Xsolla At Nordic Game, Xsolla will showcase its Web Shop solution, a direct-to-consumer (D2C) platform designed to help developers build and scale their own storefronts outside traditional app stores. The Web Shop ecosystem integrates storefronts, LiveOps tools, and player engagement features, enabling studios to strengthen player relationships while increasing revenue and operational control. Xsolla will also highlight its global pay
Cyclic Materials Appoints Former Siemens and Alcoa CEO Klaus Kleinfeld to Board of Directors20.5.2026 14:30:00 CEST | Press release
Dr. Klaus Kleinfeld’s proven leadership at two Fortune 500 public companies will strengthen the company’s global expansion Cyclic Materials, the rare earth recycling company enabling domestic circular supply chain for critical materials around the world, today announced the appointment of Dr. Klaus Kleinfeld to its Board of Directors. Dr. Kleinfeld brings decades of experience leading global industrial and advanced manufacturing businesses, including serving as CEO of two Fortune 500 companies – Siemens AG and Alcoa. His experience growing complex international operations, navigating global markets, and leading large industrial transformations will support Cyclic Materials’ industrial expansion to meet an accelerating global demand. An internationally recognized executive, investor, and entrepreneur, Dr. Kleinfeld has advised multiple U.S. Presidents and global leaders on industrial competitiveness, technology, and economic development. “Cyclic Materials is scaling a strategically vita
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom