Tawuniya renews 1-year health insurance contract with Tahakom Investment

08/12/2022 Argaam
Logo ofThe Company for Cooperative Insurance (Tawuniya)

Logo of The Company for Cooperative Insurance (Tawuniya)

The Company for Cooperative Insurance (Tawuniya) renewed, on Dec. 7, its contract with Tahakom Investment Co. and its subsidiaries to provide health insurance services to the latter’s employees and family members for another year, the insurer said in a statement to Tadawul.

 

The contract term is one year starting Jan. 1, 2023. The contract value exceeds 1% of the company's total revenue as per the latest audited financial statements for 2021, Tawuniya added.

 

The company pointed out that the contract is expected to positively impact the gross insurance premiums and 2023 financial results, adding that Tawuniya Chairman, Abdulaziz Ibrahim Alnowaiser, has an indirect interest in this contract, being the Chief Executive Officer (CEO) of Tahakom Investments.

 

Tawuniya, however, affirmed that the contract was conducted within the company's ordinary applicable framework with no special or preferential terms awarded.

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