Tawuniya inks deal to provide health insurance services to NWC

Logo of Tawuniya Insurance

The Company for Cooperative Insurance (Tawuniya) announced today, Aug. 22, signing a contract with the National Water Co. (NWC) to provide cooperative health insurance services to the latter’s employees and their family members.

The contract term is one year, starting from Aug. 25, 2022 until Aug. 24, 2023. The agreement value exceeds 1% of the total revenue, based on the audited financial statements for 2021, Tawuniya said in a bourse statement.

The deal is expected to have a positive impact on Tawuniya’s gross insurance premiums and 2022 financials, as health insurance services are offered in accordance with the terms and conditions agreed upon for each policy.

Chairman Abdulaziz AlNowiaser has an indirect interest in this contract, as he is also member of NWC’s audit committee. The agreement was made within the normal course of business and did not grant any preferential benefits.