From Traditional to Tech-Savvy: The Shocking Transformation of Tawuniya You Need to Know!

The Company for Cooperative Insurance, commonly known as Tawuniya, stands as a pillar in the Saudi Arabian insurance landscape. Established in 1986, Tawuniya was the first national insurance company in Saudi Arabia to be licensed to operate under the cooperative insurance principle, which aligns with Islamic Shariah. Headquartered in Riyadh, the company has consistently evolved to meet the diverse needs of its clientele, offering a comprehensive range of over 60 insurance products. A Legacy of Trust and Excellence Tawuniya’s journey began with a vision to provide reliable insurance solutions to the Saudi market. The company operates under a robust regulatory framework established by the Saudi Central Bank (SAMA), ensuring compliance with all necessary regulations. With an authorized capital of SAR 1.25 billion, the company boasts the highest paid-up capital among its peers in the Kingdom, reflecting its financial strength and stability. The company’s extensive portfolio includes health, motor, property, marine, aviation, and casualty insurance. Tawuniya also offers innovative takaful products that cater to customers seeking Sharia-compliant options. This diverse range allows the company to serve both retail and corporate clients effectively. Financial Performance and Market Leadership In recent years, Tawuniya has demonstrated remarkable growth. In 2023,