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
Social Development Bank Highlights Strategic Partnerships and Global Initiatives at DeveGo 202524.12.2025 17:27:00 CET | Press release
The forum held in Riyadh witnessed the signing of 51 agreements aimed at strengthening the entrepreneurial ecosystem The Social Development Bank (SDB) hosted the second edition of the Entrepreneurship and Modern Business Practices Forum, “DeveGo 2025”, from 21 to 23 December in Riyadh. Held under the patronage of His Excellency Eng. Ahmed bin Sulaiman Al Rajhi, Minister of Human Resources and Social Development and Chairman of SDB’s Board of Directors, the forum brings together government leaders, global experts, investors, and entrepreneurs to shape the future of entrepreneurship and modern business practices in the Kingdom of Saudi Arabia. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251224036724/en/ From right to left: Ahmed Al Rajhi, Saudi's Minister of Human Resources and Social Development, H.E. Rebeca Grynspan, Secretary-General of UNCTAD, and Sultan Al Hamidi, CEO of Social Development (Photo: AETOSWire) Opening th
Making Science Unveils ‘AWAKE’: The AI Venture Studio Industrialising Startup Creation and AI-First Innovative Solutions23.12.2025 20:51:00 CET | Press release
The disruption generated by AI enables the acceleration and industrialisation of the creation of internal solutions and start-ups through centres of excellence in Chicago, Madrid and Tbilisi.This model has already proven its commercial and innovative power through the acceleration of startups like ad-machina, which has multiplied its value by 10 since joining the Making Science ecosystem. Making Science, the global digital acceleration consultancy, today announced the launch of AWAKE Venture Studio. This "AI-first" model represents a new era in systematic innovation, designed to identify, prototype, and scale both internal proprietary solutions and independent AI-native startups with global reach. The launch of AWAKE is motivated by the significant efficiency gains of orders of magnitude that Making Science has already achieved through the internal integration of AI. By applying these methods, the firm has achieved a 2x acceleration in tech feature development reducing time in the depl
FDA Clears First Extended Depth of Focus Contact Lens for Presbyopia23.12.2025 18:07:00 CET | Press release
Deseyne® (vifilcon C) Daily Disposable Soft (Hydrophilic) Contact Lens for Presbyopia with Extended Depth of Focus (EDOF) Delivers Continuous Vision at All Distances—Redefining Presbyopia Correction The Cataltheia Group and its U.S. subsidiary, Bruno Vision Care LLC, a leader in eye health innovation, today announced that the U.S. Food and Drug Administration (FDA) has cleared the first and only Daily Disposable Soft (Hydrophilic) Contact Lens for Presbyopia utilizing patented Extended Depth of Focus (EDOF) optical design technology, enabling commercial distribution in the United States. Deseyne® delivers smooth, continuous focus across near, intermediate, and distance vision, providing clear, natural vision without compromise. This performance is enabled by Cataltheia’s patented hyper-refractive central zone, engineered to precisely redirect light in a controlled manner. The result is a clear clinical advantage over the only other available contact lens option for presbyopia, multifoc
Aramco Awards SLB Long-Term Contract to Support Kingdom’s Unconventional Gas Production Growth23.12.2025 14:58:00 CET | Press release
Five-year contract to drive innovation in stimulation, intervention, digital and frac automationAgreement underscores gas as a pivotal fuel for global energy demand and a bridge to lower-carbon systems Global technology company SLB (NYSE: SLB) has been awarded a five-year contract by Aramco to provide stimulation services for its unconventional gas fields. This award is part of a broader multi-billion contract, supporting one of the largest unconventional gas development programs globally. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251223074948/en/ The contract encompasses advanced stimulation, well intervention, frac automation, and digital solutions, which are important to unlocking the potential of Saudi Arabia’s unconventional gas resources. The contract encompasses advanced stimulation, well intervention, frac automation, and digital solutions, which are important to unlocking the potential of Saudi Arabia’s unconve
Tabelog, Japan's Largest (*1)Restaurant Search and Reservation Service,Launches Multilingual App for International Visitors23.12.2025 14:00:00 CET | Press release
Experience Japan's Authentic Culinary Scene in Your Language — From Search to Reservation, All on Your SmartphoneRanked No. 1 in Downloads Among "Japanese Gourmet Search Apps" Chosen by International Travelers (*2) Tabelog (https://tabelog.com/en/), Japan's largest restaurant search and reservation service operated by Kakaku.com, Inc., launched its multilingual smartphone application (iOS/Android) for international travelers on Monday, November 17, 2025. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251221963753/en/ The Tabelog Multilingual App for International Travelers — Japan's Largest Restaurant Search and Reservation Service With approximately 100 million monthly users(*3), Tabelog is Japan's premier service widely used by Japanese locals for daily restaurant discovery. Its database is unrivaled domestically, featuring information on approximately 890,000 establishments nationwide and over 85 million reviews and photo
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