KSA - Tawuniya secures health ins. contract with Tahakom Investment
Thursday, 12 31 2020, Category: Insurance and Reinsurance, Country: Saudi Arabia
The Company for Cooperative Insurance (Tawuniya) renewed its health insurance services contract with Tahakom Investment Company and its subsidiaries for another year, the insurer said in a bourse filing today, Dec. 30.
The contract value exceeds 1% of the company’s total revenue as per the latest audited financial statements for 2019.
The contract is expected to be signed on Jan. 1, 2021.
Tawuniya chairman Abdulaziz Ibrahim Alnowaiser has an indirect interest as he is also the CEO of Tahakom Investments.
The contract is expected to positively impact FY 2021 revenue, and no special or preferential terms have been offered, the statement said.