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
Boomi Teams up With Gong to Bring Revenue AI to Boomi Agentstudio14.5.2026 18:00:00 CEST | Press release
Gong's revenue AI is now natively available in the Boomi Enterprise Platform Boomi, the data activation company for AI, today announced a collaboration withGong, the leader in Revenue AI, to bring revenue signals captured in Gong natively into the Boomi Enterprise Platform. This collaboration enables enterprises to establish an active data foundation designed to transform customer conversations into coordinated, automated actions across systems and functions enterprise-wide with Boomi Agentstudio. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260514443012/en/ Boomi Teams Up with Gong to Bring Revenue AI to Boomi Agentstudio Gong goes beyond capturing deal activity to surface real-time insights into risk, buyer intent, competitive dynamics, and key engagement signals. That intelligence moves from conversation to coordinated action, flowing across CRM, ERP, product, and operational systems with the governance and security tha
Xsolla and Skich Announce Strategic Partnership to Bring Merchant of Record Payments to an Alternative Mobile Game Marketplace14.5.2026 18:00:00 CEST | Press release
Partnership Enables Developers To Monetize Games On The Skich Store With Xsolla Handling Payments, Tax Compliance, And Commerce Infrastructure Xsolla, a leading global video game commerce company, today announced a strategic partnership with Skich, an alternative mobile game marketplace operating on iOS in the EU under Apple's Digital Markets Act provisions and on Android globally. Under the agreement, Xsolla will serve as Merchant of Record for in-app purchases and paid game sales distributed through the Skich Store. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260514867730/en/ Graphic: Xsolla Skich serves as an alternative to traditional mobile storefronts, offering developers a way to reach players outside platform-controlled distribution channels. The partnership with Xsolla enables Skich to offer a fully compliant payment and commerce layer, with Xsolla managing payment processing, tax collection, refunds, and regulat
Boomi and Guru Partner to Deliver AI-Powered Enterprise Knowledge Enriched by Real-Time Data Activation14.5.2026 16:30:00 CEST | Press release
Guru becomes a launch partner for Boomi Connect, integrating with Boomi’s managed connector service and MCP Registry to transform fragmented enterprise data into governed, actionable intelligence for AI agents Boomi, the data activation company for AI, and Guru, the AI-powered enterprise knowledge platform, today announced a technology partnership to help organizations unlock the full value of their enterprise data for AI-driven decision-making. Unveiled at Boomi World 2026, the partnership makes Guru a launch partner for Boomi Connect, Boomi’s new managed connector service, and integrates Guru’s knowledge agents with Agentstudio and the Boomi MCP Registry to deliver richer, more accurate, and more actionable insights to knowledge workers and AI agents alike. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260514440755/en/ Guru was selected as a Boomi Connect launch partner because its AI-powered knowledge platform represents
IQM and Real Asset Acquisition Corp. Announce Public Filing of Form F-4 Registration Statement with the SEC14.5.2026 15:55:00 CEST | Press release
This filing marks an important milestone in the transaction, moving IQM closer to becoming the first European quantum computing company to go public. Global commercial leader with 23 systems sold to customers to date – including 4 out of the top 10 supercomputing centres and increasing adoption by enterprise customers. Industrial leader with 15 systems delivered (largest number publicly disclosed by selected quantum companies1), 30+ computers built, own chip factory, assembly line and quantum data centre. The transaction values IQM at a pre-money equity valuation of approximately USD 1.8 billion. With the close of this transaction, IQM’s cash position is expected to be up to EUR 397 million (USD 465 million).2 Significant business momentum, with 2025 revenue of USD 36 million3 or over EUR 31 million. IQM intends to apply for its shares to be admitted to trading on Nasdaq Helsinki following the Business Combination. IQM Finland Oy, a global leader in full-stack superconducting quantum c
MOBX to Acquire U.S. Defense Rare Earth, Critical Minerals Company14.5.2026 15:40:00 CEST | Press release
Mobix Labs (Nasdaq: MOBX) today announced a non-binding Letter of Intent to acquire Special Project Delivery LLC ("SPD"), a U.S. company building sovereign supply chains for rare earth elements, critical minerals, and energy storage. The proposed acquisition would extend Mobix Labs' national security work — already supplying U.S. and allied fighter jets, missiles, submarines, and satellites — directly into one of the world's most strategically important industrial sectors. MOBX is moving directly into the supply chain powering modern defense, aerospace, and AI infrastructure. Forward-Looking Statements This press release contains forward-looking statements regarding the proposed acquisition of Special Project Delivery LLC ("SPD"), which are subject to risks and uncertainties described in Mobix Labs' SEC filings and similar provisions under applicable non-U.S. securities laws. The Letter of Intent is non-binding, and there can be no assurance that a definitive agreement will be executed
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