Tawuniya: improved results in 2019

On 30 December 2019, the Company for Cooperative Insurance (Tawuniya) posted a net profit before Zakat of 402.2 million SAR (107.068 million USD). One year earlier, the Saudi insurer recorded loss of 213.3 million SAR (-56.781 million USD). The 2019 turnover amounted to 8375.860 million SAR (2230.6 million USD), increasing by 9.6% over one year.

Not only does the good performance of 2019 go back to the increase in premiums but also the significant drop in the incurred losses which fell by 11.54% compared to 2018.

Hence, a sharp rise in the operating income established at 192.4 million SAR (51.238 million USD) in 2019 compared to a deficit of 455.2 million SAR (121.177 million USD) in 2018. The company's shareholder's equity grew by 26.35% to settle at 2 399.458 million SAR (639.005 million USD).

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