Tawuniya secures SAR 115 mln ins. contract with Tahakom
Tuesday, 12 17 2019, Category: Insurance and Reinsurance, Country: Saudi Arabia
The Company for Cooperative Insurance (Tawuniya) secured a SAR 115 million deal with Tahakom Investment Co. and its affiliated companies to provide insurance services to their employees, according to a bourse filing.
Both companies will sign the agreement on January 1, 2020.
As regards related parties, Abdulaziz Alnowaiser, a board member of Tawuniya, has an indirect interest in the deal for being the CEO of Tahakom.
Tawuniya expected the deal to have an impact on its revenues in 2020.