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The Company for Cooperative Insurance (Tawuniya) Announces Contract Award with Ministry of Hajj and Umrah

TAWUNIYA 8010 1.99% 123.20 2.40
Element List Explanation
Introduction The Company for Cooperative Insurance (Tawuniya) announces it has received on 27th of August 2019 the confirmation of the Ministry of Hajj and Umrah, upon the approval of the Saudi Arabian Monetary Agency (SAMA) to contract with the Ministry of Hajj and Umrah on "co-insurance" basis with the the insurance sector, to provide insurance services for Foreign pilgrims (Hajj and Umrah).
Date of the Award 2019-08-27 Corresponding to 1440-12-26
Contract Value The contract revenues are expected to be greater than 5% of the 2018 annual gross written premium of The Company for Cooperative Insurance (Tawuniya).
Contract Details To provide insurance services for foreign pilgrims (Hajj and Umrah) for a period of (4) four years.
Related Parties There is no related party
Additional Information It is expected to have a positive financial impact on the gross written premiums and financial results of the company that will be reflected gradually from the first quarter of 2020. The program will be on "co-insurance" basis with the the insurance sector.

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