The Company for Cooperative Insurance (Tawuniya) is a Saudi Joint Stock Company established in Riyadh by Royal Decree No. M/5, and incorporated on 18 January 1986 under Commercial Registration No. 1010061695.
Tawuniya was the first national insurance company licensed in the Kingdom of Saudi Arabia to practice all insurance types in accordance with the cooperative insurance principle that is accepted by Islamic Shariah, obtaining its license on 1 December 2004 by the Saudi Central Bank (SAMA), under the Cooperative Insurance Companies Control Law. The Company is also regulated by, and compliant with SAMA regulations applicable to the insurance industry.
Tawuniya provides its customers with more than 60 insurance classes including health, motor, takaful, travel, and property and casualty insurance for coverage of assets in addition to liability insurance for damage and accidents across multiple sectors including marine, aviation, and energy. Strongly anchored to nearly four decades of operational excellence, Tawuniya has remained the first choice for all insurance customer segments in the Kingdom, continuously improving its service offering through the mastered formula of innovation, technology and collective insurance expertise.
The Company’s Head Office is located in Riyadh, Kingdom of Saudi Arabia.
Shareholder Structure
The authorized, issued and paid-up capital of the Company amounts to SAR 1,250 Mn., the highest paid-up capital among insurance companies operating in the Kingdom of Saudi Arabia. This capital is divided into 125 million nominal shares of SAR 10 each, with the ownership of shares as at 31 December 2022 illustrated below:
Ownership of shares
Subsidiaries and Associates
