Tawuniya - Main technical highlights (2014 - 2018)

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The Company for Cooperative Insurance (Tawuniya) was recognized as the “Best Islamic Insurance Company” for 2018 by the World Finance Magazine and received the “Best Cooperative Insurance Company in KSA” awarded by Global Brands Magazine.
Tawuniya
  • Date of creation: 18 January 1986, Saudi Arabia
  • Class of business: Non-life
  • Distribution network: 115 agencies in Saudi Arabia
  • Rating: Standard & Poor’s: « A- », with a stable outlook

Tawuniya in 2018

Soliman S. Al-Humayyd
Chairman of the board
Abdulaziz H. Alboug
Chief executive officer (CEO)
Share capital
333 625 000 USD
Turnover
2 039 448 000 USD
Assets
3 370 301 000 USD
Shareholder’s equity
482 614 000 USD
net result
-56 940 000 USD
Non-life net loss ratio
93%
Non-life net expenses ratio
15.72%
Non-life net combined ratio
108.72%
Agencies
115

Management

Soliman S. Al-HumayydChairman of the board
Abdulaziz H. AlbougChief executive officer (CEO)
Sultan S. Al-KhomashiSenior vice president, General Insurance
Abdullah A. Al-ArfajChief operating officer (COO)
Adel A. Al-HamoudiVice president, Sales & Marketing
Fahad S. Al-MoammarVice president, Investment
Hisham F. RadwanVice president, Medical Insurance
Abdulrahman M. Al-DokhayelVice president, Property and Casualty Insurance
Mansoor F. AbuthneinVice president, Motor Insurance

Shareholding

General Organization for Social Insurance23%
Public Pension Agency24%
Shares listed on the exchange market53%

Read also | Tawuniya: improved results in 2019

Tawuniya : Main technical highlights (2014 - 2018)

Figures in thousands USD
 20142015201620172018
Gross written premiums
1 654 5142 011 9462 148 6272 242 8992 039 448
Written premiums net of reinsurance
1 410 7451 712 2801 886 7721 942 3871 742 080
Net earned premiums
1 280 4391 510 5261 824 6671 948 3361 885 850
Net incurred losses
975 3541 104 9741 361 2191 817 8021 753 978
Net loss ratio (1)
76,17%73,15%74,60%93,30%93%
Management expenses
232 840307 170297 590324 330273 977
Net expenses ratio (2)
16.5%17.94%15.77%16.70%15.72%
Net combined ratio (3)
92.67%91.09%90.37%110%108.72%
Net result
-7 016-14 67250 315-39 098-56 940
(1) Net loss ratio = Net incurred losses / Net earned premiums
(2) Net expenses ratio = Management expenses / Written premiums net of reinsurance
(3) Net combined ratio = Net loss ratio + Net expenses ratio

Evolution of net ratios: 2014 - 2018

Tawuniya net ratios 2018

Tawuniya : Breakdown of turnover per class of business (2014 - 2018)

Figures in thousands USD
 20142015201620172018Shares 2018
Medical
1 107 4511 310 0001 395 3401 533 2401 536 51275.34%
Property & Casualty and third party liability
269 021304 580287 011289 108285 12113.98%
Motor
278 042345 275403 421370 548179 3868.80%
Others (1)
-52 09162 85550 00338 4301.88%
Total
1 654 5142 011 9462 148 6272 242 8992 039 448100%

(1) Motor insurance underwritten at the borders

Breakdown of 2018 turnover per class of business

Tawuniya turnover 2018

Tawuniya : Net incurred losses per class of business (2014 - 2018)

Figures in thousands USD
 201420152016201720182017-2018 evolution
Medical
781 255883 5031 065 9231 532 7741 572 0412.56%
Motor
176 809200 430271 821258 994166 704-35.63%
Property & Casualty
17 2916 68911 8569 8578 354-15.25%
Autres (1)
-14 35111 61811 5616 879-40.50%
Total
975 3541 104 9741 361 2191 813 1861 753 978-3.27%

Tawuniya: Net earned premiums per class of business (2014 - 2018)

Figures in thousands USD
 201420152016201720182017-2018 evolution
Medical
970 3301 143 3511 331 7881 488 8511 550 8224.12%
Motor
272 264288 199393 630377 193267 047-29.23%
Others (1)
-42 01162 30552 65738 425-27.05%
Property & Casualty
37 84536 96436 94429 63529 555-0.31%
Total
1 280 4391 510 5261 824 6671 948 3361 885 850-3.24%

Tawuniya : Net loss ratio per class of business (2014 - 2018)

 20142015201620172018
Medical
80.51%77.27%80.04%103.26%101.37%
Motor
64.94%69.55%69.05%68.67%62.42%
Others (1)
-34.16%18.65%21.96%17.90%
Property & Casualty
45.69%18.10%32.09%33.29%28.27%
Total
76.17%73.15%74.60%93.30%93%
Exchange rate as at 31/12
SAR/USD
2014
2015
2016
2017
2018
0.26653
0.26665
0.26674
0.26680
0.26690
Tawuniya

Tawuniya

Headquarters
Thomamah Road - (Takhassusi) - Ar Rabi District- Riyad P.O. Box 86959 Riyad 11632
Tell
+966 11 252 5800
Fax
+966 11 400 0844
E-mail
info [at] tawuniya [dot] com [dot] sa
Website
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Tue, 11/06/2019 - 14:41
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