Tawuniya bags health insurance contract from Ministry of Foreign Affairs

The Company for Cooperative Insurance (Tawuniya) received today, April 8, an approval from the Ministry of Foreign Affairs to provide cooperative health insurance to its employees, according to a Tadawul statement.

The contract value exceeds 10% of the company’s 2024 audited revenue, the statement said.

The contract will run for three years, starting June 1, 2025, under agreed terms and conditions. Tawuniya expects to sign the contract on the same date.

The insurer sees a positive impact on its 2025 gross written premiums, adding there are no related parties to the deal.

The company posted insurance revenues of almost SAR 18.27 billion for 2024, according to data available with Argaam. The deal is valued at around SAR 1.83 billion, representing 10% of the total revenue for the year.