Market Announcement & Disclosure: TAWUNIYA 8010
Tawuniya Secures Contract to Provide Health Insurance Services to Saudi Telecom Company Group
The Company for Cooperative Insurance, widely known as Tawuniya, has announced a significant milestone in its operations. On October 1, 2023 (corresponding to 1445-03-16), Tawuniya received a firm order from the Saudi Telecom Company Group to provide cooperative health insurance services to its employees and their families.
This contract, with an award date of October 1, 2023, represents a substantial opportunity for Tawuniya. Notably, the contract value exceeds 5% of Tawuniya’s total revenue, as per its latest audited financial statements for the year 2022. The expected date for signing the contract is October 5, 2023 (corresponding to 1445-03-20).
The contract entails providing comprehensive health insurance services to the employees and families of the Saudi Telecom Company Group for a duration of one year, starting from October 5, 2023.
Tawuniya anticipates that this contract will have a positive impact on its Gross Written Premium for the fiscal year 2023, reflecting the company’s continued growth and commitment to delivering high-quality insurance services.
This development underscores Tawuniya’s position as a leading provider of insurance solutions in the region and reaffirms its dedication to meeting the evolving needs of its clients. As Tawuniya moves forward with this contract, it remains focused on delivering value and peace of mind to its customers while driving sustainable growth in the insurance sector. Stay tuned for further updates on this significant contract and its implications for Tawuniya’s operations and financial performance.
