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
Interactive Brokers Launches Access to Korean Equities, Breaking New Ground for Global Investors7.5.2026 03:00:00 CEST | Press release
Interactive Brokers (Nasdaq: IBKR), an automated global broker, today announced the launch of access to equities listed on the Korea Exchange (KRX), becoming the first major US-based broker to offer seamless trading in Korea's $1.8 trillion equity market. Korea ranks fourth among Asia's equity markets and tenth globally by market capitalization, with over $10 billion in daily volume – liquidity comparable to many European exchanges. The market is home to category-leading semiconductor manufacturers, automotive innovators, and consumer technology companies with global footprints, including Samsung Electronics, SK Hynix, and Hyundai Motor. As one of Asia’s most liquid markets, Korea represents a point of entry for international investors seeking exposure to the region’s technology leadership and industrial innovation. For investors operating across multiple markets and time zones, Interactive Brokers' launch expands the ability to build truly global portfolios with the same integrated tr
Andersen Global udvider med samarbejdspartneren NetExpat7.5.2026 01:38:00 CEST | Pressemeddelelse
Andersen Global styrker sin platform på tværs af Asien-Stillehavsområdet, Europa og USA gennem en samarbejdsaftale med NetExpat, der er en virksomhed med speciale i medarbejderassistance, interkulturel oplæring og ledelsesudvikling for internationalt mobile medarbejdere. NetExpat blev grundlagt for mere end 25 år siden og er en anerkendt markedsleder inden for global mobilitet og talentudvikling med støtte til multinationale kunder verden over. Virksomheden tilbyder vurderings-, trænings- og coachingprogrammer, der er designet til at understøtte globale arbejdsstyrker og deres medarbejdere i forbindelse med flytninger, herunder interkulturelle parathedsvurderinger, målrettet, effektiv kulturoplæring, karriere- og integrationsstøtte til medarbejderes ægtefæller samt talentudviklingsprogrammer for internationalt orienterede teams. "I mere end to årtier har NetExpat haft fokus på at hjælpe organisationer og deres medarbejdere med at trives med international mobilitet," udtaler Alain Verst
Brightfin Launches Spend Clearly AI to Help Enterprise Tech Leaders Take Control of Growing IT and AI Costs6.5.2026 22:32:00 CEST | Press release
New AI-powered optimization app delivers real-time visibility, cost reduction, and predictive forecasting as enterprise AI spending accelerates Brightfin, a leader in AI native IT cost optimization, today announced the launch of Spend Clearly AI, an intelligent optimization app purpose-built for enterprise technology leaders navigating the dual pressures of rising IT complexity and rapidly escalating AI investment. As organizations race to deploy AI apps, models, and infrastructure, technology demands on the budget are expanding faster than ever and growing harder to track, justify, and control. The modern enterprise IT bill has become a moving target. Spend Clearly AI gives CIOs, CTOs, and IT finance teams a single, intelligent app to see exactly where every technology dollar is going, eliminate waste, and stay ahead of costs before they spiral. "Stop thinking about IT as a cost problem. The goal isn't just to spend less — the goal is to spend better," said Joel Martins, CEO of Bright
iQmetrix to Showcase Intelligent Commerce Operating System and Catalyst Innovation at DTW Ignite 20266.5.2026 19:20:00 CEST | Press release
Bronze sponsor debut includes Catalyst project innovation, live platform demo, and a unified AI‑native commerce vision iQmetrix, the Intelligent Commerce Operating System for telecom, announced today it will exhibit, speak, and compete as a bronze sponsor at DTW Ignite 2026 in Copenhagen from June 23–25. The company will deliver a live product demo in The Loft, showcase its ODA PRISM Catalyst project alongside a consortium of global operators and technology partners, and exhibit at Booth #317 throughout the event. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260506948390/en/ The debut marks a milestone in iQmetrix’s global growth strategy and deepens its partnership with TM Forum, following its recent recognition as an ODA Component Directory Partner. The Future of Commerce Is Won at the Orchestration Layer DTW Ignite 2026’s theme, “The Future. Faster.,” captures the urgency facing communications service providers worldwid
Go Beyond the Guidebook: Why Ireland Rewards Those Who Slow Down6.5.2026 18:15:00 CEST | Press release
In a world where travel often feels rushed and driven by checklists, Ireland stands apart. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260501313521/en/ Lusty Beg Island Kesh, Co. Fermanagh The destination offers something deeper, drawing visitors beyond the expected toward richer encounters with its landscapes, culture and communities. As a compact island, Ireland gives holiday makers the chance to take in much of the destination while still travelling at a relaxed, unhurried pace. It’s a chance to slow down, not to do less, but to feel more - more calm, more connection, and more of what makes travel meaningful. This approach to travel is matched by Ireland’s natural warmth and welcome, helping visitors feel at home from the moment they arrive. Take the scenic route From the rugged coastline of the Wild Atlantic Way, one of the world’s longest coastal routes, to the rolling landscapes of Ireland’s Hidden Heartlands, Irela
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