Tawuniya: 2024 annual results

Company for Cooperative Insurance (Tawuniya) closed the 2024 financial year with insurance revenue of 18.3 billion SAR (4.9 billion USD), which represents a 19.7% increase on the 15.3 billion SAR (4.1 billion USD) recorded a year earlier.

Gross written premiums stood at 19.8 billion SAR (5.3 billion USD) against 18.4 billion SAR (5 billion USD) in 2023, reflecting a 7% growth.

The Saudi insurance company's annual net result reached 1.02 billion SAR (271.4 million USD), up by 65.8% compared with the 616.4 million SAR (164.3 million USD) posted at end-December 2023.

Tawuniya's shareholders' equity rose by 23.65% over one year to reach 4.5 billion SAR (1.2 billion USD).