Tawuniya to deliver health insurance services for stc employees ‎and their families

The Company for Cooperative Insurance (Tawuniya) announces that it has received on 20 September 2022, a firm order from Saudi Telecom Company Group to provide health insurance services for group employees and their families.

Saudi Telecom Company Group is considered as a related-party given that the Chief Financial Officer of The Company for Cooperative Insurance (Tawuniya), Dr. Ammr K. Kurdi, has an indirect interest as he is an Independent Member of the Audit Committee for Saudi Telecom Company Group. The company also confirms that the policy offering was treated as per standard business procedures without any special or preferential terms.

Contract Value: Contract value exceeds 5% of Gross Written Premium as per latest audited financial statements for the year 2021.

Additional Information: It’s expected the contract will have positive impact on the Gross Written Premium for the fiscal years 2022.