TAWUNIYA-INSURANCE
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
Kioxia Selected in Clarivate Top 100 Global Innovators 202622.1.2026 02:30:00 CET | Press release
Kioxia Corporation has been named a Clarivate Top 100 Global Innovators 2026, an award given to the most innovative global companies by Clarivate Plc. This is the fifth time Kioxia has received this prestigious award in recognition of its accomplishment in intellectual property. The Clarivate Top 100 Global Innovators 2026 Awards were presented to the world’s most innovative companies and organizations, based on Clarivate’s proprietary analysis of intellectual property and patent trends. The methodology uses a model that measures innovation and focuses on consistent high performance and scale in innovativeness, where all ideas compete equally. Based on its mission of “uplifting the world with ‘memory,’” Kioxia will cultivate a new era of flash memory with its innovative technology to promote research and technology development that supports the increasing adoption of AI and the digital society of the future. Kioxia continues to protect and effectively utilize its intellectual property
Access Advance Closes 2025 with Record Quarter: Eight Major Licensees, 100% Renewal Rate, Litigations Resolved22.1.2026 02:00:00 CET | Press release
Access Advance LLC today announced the conclusion of an exceptional fourth quarter, with growth in all three main patent pools highlighted by the addition of eight major Licensees, a 100% renewal rate among HEVC Advance Licensees in good standing, and the resolution of multiple Licensor enforcement actions through pool licenses. The HEVC Advance Patent Pool welcomed 29 new Licensees, an 8% increase in total Licensees in just three months. The VVC Advance Patent Pool grew 40% with the signing of eight new Licensees, while the Advance VDP Pool added both a new Licensor and the first U.S.-based Licensee. Among the new Licensees joining Access Advance's programs were Hisense, Mercedes-Benz AG, Roku, Skyworth, Transsion, and Xiaomi in HEVC Advance; OPPO, vivo and Xiaomi in VVC Advance, and Roku in the VDP Pool. The quarter also saw the resolution of multiple Licensor-initiated litigations through licensing, with Hisense, Roku, and Transsion joining the HEVC Advance Patent Pool. Roku also be
IFF to Release Fourth Quarter & Full Year 2025 Results on Feb. 11, 2026; IFF to Present at 2026 CAGNY Conference on Feb. 19, 202621.1.2026 22:15:00 CET | Press release
IFF (NYSE:IFF) today announced that it will release its fourth quarter and full year 2025 earnings results following the market close on Wednesday, Feb. 11, 2026. The management team will host a live webcast on Thursday, Feb. 12, 2026, at 9:00 a.m. ET to discuss results and outlook with the investor community. IFF also announced today that the Company’s management will speak at the Consumer Analyst Group of New York (CAGNY) conference on Thursday, Feb. 19, 2026 at 1:00 PM ET. Investors may access the live webcast and accompanying slide presentation on the Company's website at ir.iff.com. For those unable to listen to the live webcast, a recorded version will be made available for replay. Welcome to IFF At IFF (NYSE: IFF), we make joy through science, creativity and heart. As the global leader in flavors, fragrances, food ingredients, health and biosciences, we deliver groundbreaking, sustainable innovations that elevate everyday products—advancing wellness, delighting the senses and en
UAE Research Program for Rain Enhancement Science Announces Awardees of 6th Cycle Grants21.1.2026 21:17:00 CET | Press release
The UAE Research Program for Rain Enhancement Science (UAEREP), managed by the National Center of Meteorology (NCM), announced the awardees of its Sixth Cycle research grants. Each recipient will receive up to US$1.5 million over three years, with a maximum annual allocation of US$550,000. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260121231610/en/ UAE Research Program for Rain Enhancement Science Announces Awardees of 6th Cycle Grants (Photo: AETOSWire) The Sixth Cycle awardees are Dr. Dixon Michael, Principal Radar Meteorologist and Software Engineer at Echo Science Works, USA, for “Advancing Cloud Seeding Science with Dual-Polarization Radar Signatures and AI”; Prof. Linda Zou, Adjunct Professor at Victoria University, Australia, for “AI-assisted Development and Optimization of Glaciogenic Cloud Seeding Materials”; and Dr. Oliver Branch, Senior Scientist at the University of Hohenheim, Germany, for “Rainfall Enhanceme
Logical Intelligence Introduces First Energy-Based Reasoning AI Model, Signals Early Steps Toward AGI, Adds Yann LeCun and Patrick Hillmann to Leadership21.1.2026 19:21:00 CET | Press release
Logical Intelligence, an artificial intelligence company developing energy-based (EBM) reasoning systems, today announced that Kona 1.0, its pioneering EBM for reasoning, will enter pilot programs with select partners in the energy, advanced manufacturing, and semiconductor industries later this quarter. Logical Intelligence also released a live demonstration of Kona 1.0 on its website, beginning with head-to-head sudoku challenges against leading large language models. Additional demonstrations, including chess and Go, are planned. The company said the goal is to give researchers and the public a clear view into how energy-based reasoning differs from probabilistic systems. “Kona learns by recognizing and correcting its own mistakes, rather than guessing the most likely answer,” said Eve Bodnia, founder and CEO of Logical Intelligence. “If general intelligence means the ability to reason across domains, learn from error, and improve without being retrained for each task, then we are s
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