Tawuniya wins contract to offer insurance coverage to stc employees

The Company for Cooperative Insurance (Tawuniya) headquarters

The Company for Cooperative Insurance (Tawuniya) was awarded today, Oct. 1, a contract by Saudi telecom giant stc to provide cooperative health insurance services to the latter’s employees and their families. 

In a statement to Tadawul, Tawuniya pointed out that the value of the contract exceeds 5% of its 2022 revenues, as per the 2022 audited financials. The deal is expected to be signed on Oct. 5, with a one-year duration.  

A positive financial impact is expected to reflect on the 2023 gross written premiums, the insurer said, noting that the deal does not have related parties.