Tawuniya - Company for Cooperative Insurance
- Date of creation: 18 January 1986, Saudi Arabia
- Class of business: Life and non life insurance
- Distribution network: 115 agencies in Saudi Arabia
- Rating: Standard & Poor’s: « A- » stable / Fitch Ratings : « A- » Stable
Tawuniya in 2021
Abdulaziz Ibrahim Alnowaiser Chairman of the board | Abdulaziz H. Alboug Chief executive officer (CEO) |
Share capital | 332 875 000 USD |
Turnover | 2 721 215 000 USD |
Assets | 3 896 772 000 USD |
Shareholder’s equity | 809 303 000 USD |
Net result | 76 931 000 USD |
Non-life net loss ratio | 84.03% |
Non life management expenses ratio | 12.82% |
Non-life net combined ratio | 96.85% |
Agencies | 115 |
Management
Abdulaziz Ibrahim Alnowaiser | Chairman of the board |
Abdulaziz H. Alboug | Chief executive officer |
Ammr Kurdi | Chief Financial Officer |
Fahad Almoammar | Chief Investment Officer |
Yaser Allaf | Chief Governance, Risk & Control |
Marwan Alghamdi | Chief Strategy Officer |
Adel Alhamoudi | Chief Customer Experience and Marketing Officer |
Shareholding
General Organization for Social Insurance - Saudi Arabia | 25,85% |
Othes | 75,15% |
Read also | Tawuniya: H1 2022 results
Tawuniya : main technical highlights
Figures in thousands USD2017 | 2018 | 2019 | 2020 | 2021 | |
---|---|---|---|---|---|
Gross written premiums | 2 240 209 | 2 034 176 | 2 230 575 | 2 413 149 | 2 721 215 |
Gross non life written premiums | 2 240 209 | 2 027 048 | 2 223 572 | 2 404 707 | 2 711 703 |
Gross life written premiums | - | 7 128 | 7 003 | 8 442 | 9 512 |
Net written premiums | 1 940 057 | 1 737 576 | 1 784 479 | 2 015 333 | 2 292 274 |
Net non life written premiums | 1 940 057 | 1 734 501 | 1 784 980 | 2 012 789 | 2 290 243 |
Net earned premiums | 1 945 999 | 1 880 975 | 1 831 499 | 1 875 387 | 2 111 669 |
Net non life earned premiums | 1 945 999 | 1 877 980 | 1 828 917 | 1 872 794 | 2 109 740 |
Net non life incurred losses | 1 815 669 | 1 748 803 | 1 547 994 | 1 460 674 | 1 772 786 |
Non life management expenses | 256 570 | 234 959 | 247 176 | 271 604 | 293 572 |
Net non life loss ratio (1) | 93.30% | 93.12% | 84.64% | 77.99% | 84.03% |
Net non life management expenses ratio (2) | 13.22% | 13.55% | 13.85% | 13.49% | 12.82% |
Net non life combined ratio (3) | 106.52% | 106.67% | 98.49% | 91.48% | 96.85% |
Net result | -39 051 | -74 361 | 96 369 | 118 221 | 76 931 |
(2) Net non life management expenses ratio = Non life management expenses / Net non life written premiums
(3) Net non life combined ratio = Net non life loss ratio + Net non life management expenses ratio
Tawuniya : turnover breakdown per class of business
Figures in thousands USD2017 | 2018 | 2019 | 2020 | 2021 | 2021 shares | |
---|---|---|---|---|---|---|
Health | 1 531 401 | 1 525 411 | 1 581 054 | 1 788 250 | 2 087 476 | 76.71% |
Property damage et responsabilité | 288 762 | 284 384 | 431 714 | 411 669 | 428 743 | 15.76% |
Motor | 420 046 | 217 253 | 210 804 | 180 186 | 164 736 | 6.05% |
Other risks (1) | - | - | - | 24 602 | 30 748 | 1.13% |
Total non life | 2 240 209 | 2 027 048 | 2 223 572 | 2 404 707 | 2 711 703 | 99.65% |
Life | - | 7 128 | 7 003 | 8 442 | 9 512 | 0.35% |
Grand total | 2 240 209 | 2 034 176 | 2 230 575 | 2 413 149 | 2 721 215 | 100% |
(1) Including travel insurance and accident
Tawuniya : net written premiums per class of business
Figures in thousands USD2017 | 2018 | 2019 | 2020 | 2021 | 2020-2021 evolution (1) | |
---|---|---|---|---|---|---|
Health | 1 499 789 | 1 500 204 | 1 554 990 | 1 787 895 | 2 064 952 | 15.50% |
Property damage et responsabilité | 26 879 | 22 632 | 23 141 | 22 991 | 32 202 | 40.06% |
Motor | 413 389 | 211 665 | 206 849 | 178 074 | 163 685 | -8.08% |
Other risks (2) | - | - | - | 23 829 | 29 404 | 23.40% |
Total non life | 1 940 057 | 1 734 501 | 1 784 980 | 2 012 789 | 2 290 243 | 13.78% |
Life | - | 3 075 | 2 499 | 2 544 | 2 031 | -20.17% |
Grand total | 1 940 057 | 1 737 576 | 1 787 479 | 2 015 333 | 2 292 274 | 13.74% |
(1) Evolution in local currency
(2) Including travel insurance and accident
Tawuniya: net earned premiums per class of business
Figures in thousands USD2017 | 2018 | 2019 | 2020 | 2021 | 2020-2021 evolution (1) | |
---|---|---|---|---|---|---|
Health | 1 487 065 | 1 543 818 | 1 596 374 | 1 640 952 | 1 892 022 | 15.30% |
Property damage et responsabilité | 29 599 | 29 479 | 25 974 | 23 254 | 26 952 | 15.90% |
Motor | 429 335 | 304 683 | 206 569 | 184 763 | 163 225 | -11.66% |
Other risks (2) | - | - | - | 23 825 | 27 541 | 15.59% |
Total non life | 1 945 999 | 1 877 980 | 1 828 917 | 1 872 794 | 2 109 740 | 12.65% |
Life | - | 2 995 | 2 582 | 2 593 | 1 929 | -25.60% |
Grand total | 1 945 999 | 1 880 975 | 1 831 499 | 1 875 387 | 2 111 669 | 12.60% |
(1) Evolution in local currency
(2) Including travel insurance and accident
Tawuniya: incurred losses per non life insurance
2017 | 2018 | 2019 | 2020 | 2021 | Evolution 2020-2021 (1) | |
---|---|---|---|---|---|---|
Health | 1 535 570 | 1 567 336 | 1 448 660 | 1 373 056 | 1 665 733 | 21.32% |
Property damage | 9 852 | 8 333 | 5 010 | 3 528 | 4 522 | 28.14% |
Motor | 270 247 | 173 134 | 94 324 | 83 434 | 95 613 | 14.60% |
Other risks (2) | - | - | - | 656 | 6 918 | 954.77% |
Grand total | 1 815 669 | 1 748 803 | 1 547 994 | 1 460 674 | 1 772 786 | 21.37% |
(1) Evolution in local currency
(2) Including travel insurance and accident
Tawuniya: net loss ratio per non life insurance
2017 | 2018 | 2019 | 2020 | 2021 | |
---|---|---|---|---|---|
Health | 103.26% | 101.52% | 90.75% | 83.67% | 88.04% |
Property damage | 33.29% | 28.27% | 19.27% | 15.17% | 16.78% |
Motor | 62.95% | 56.82% | 45.66% | 45.16% | 58.58% |
Other risks | - | - | - | 2.75% | 25.12% |
Grand total | 93.30% | 93.12% | 84.64% | 77.99% | 84.03% |
Exchange rate as at 31/12 SAR/USD | 2017 | 2018 | 2019 | 2020 | 2021 |
0.26648 | 0.26621 | 0.26631 | 0.2663 | 0.2663 |
Tawuniya
Headquarters | 6507 Thumamah Road- Ar Rabi District, P.O. Box 86959, Riyadh 11632, Saudi Arabia |
Tell | +966 11 252 5800 |
Fax | +966 11 400 0844 |
info [at] tawuniya [dot] com [dot] sa | |
Website |
(1) Evolution in local currency
(2)Including travel insurance and accident
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Thu, 10/11/2022 - 14:53
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