Habeeb Ahamed

Tawuniya

The Company for Cooperative Insurance (Tawuniya) is a Saudi Joint Stock Company established in Riyadh, Saudi Arabia by Royal Decree number M/5 of 17.4.1405H (5.4.1985 G) and was registered on January 18, 1986G (7.5.1406H) under Commercial Registration number 1010061695. Its principal lines of business include motor, marine, fire, medical, engineering, energy, aviation, takaful, and casualty insurance. The authorized, issued and paid up capital of the Company is SR 1000 million consisting of 100 million shares of SR 10 each. The capital ownership is as follows: The General Organization for Social Insurance 23%, the Public Pension Agency 24%, and 53% held by the public through stock market. Tawuniya has the resources and means to extend its products to meet retail and corporate needs while simultaneously transacting in various classes of risks, whether simple or complicated. Upon launching any new insurance covers, Tawuniya strives to be attentive to its clients and to react to their demands. It always attempts to gauge the public's response to Tawuniya's media messages in regards to launching or modifying various insurance covers or implementing new products.