The Company for Cooperative Insurance (Tawuniya) announces that it has received on 20 September 2022, a firm order from Saudi Telecom Company Group to provide health insurance services for group employees and their families.
Date of the Award
2022-09-20 Corresponding to 1444-02-24
Contract Value
Contract value exceeds 5% of Gross Written Premium as per latest audited financial statements for the year 2021.
Expected Date for Signing the Contract
2022-10-05 Corresponding to 1444-03-09
Contract Details
Provide health insurance services for Saudi Telecom Company Group employees and their families for one year starting from 05 of October 2022.
Related Parties
Saudi Telecom Company Group is considered as a related-party given that the Chief Financial Officer of The Company for Cooperative Insurance (Tawuniya), Dr. Ammr K. Kurdi, has an indirect interest as he is an Independent Member of the Audit Committee for Saudi Telecom Company Group. The company also confirms that the policy offering was treated as per standard business procedures without any special or preferential terms.
Additional Information
It’s expected the contract will have positive impact on the Gross Written Premium for the fiscal years 2022.
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