The Company for Cooperative Insurance (Tawuniya) was founded in 1986 in Riyadh as a Saudi joint stock company and the first licensed national insurance company in Saudi Arabia offering various insurance products in accordance with the cooperative insurance concept that is Islamically accepted.
Tawuniya transacts all classes of insurance business including medical, motor, fire, property engineering, casualty, marine, energy, aviation, Takaful, liabilities and many other insurances. It provides customers with more than 60 types of insurance.
The authorized, issued and paid up capital of Tawuniya is SR 1,250 million consisting of 125 million shares of SR 10 each. The capital ownership is as follows: The General Organization for Social Insurance 23%, the Public Pension Agency 24%, and 53% held by the public through stock market.
Since its establishment, Tawuniya has played a pioneering role in the insurance sector, making it the leading insurance company in Saudi Arabia. Through its 32 years of experience, the company has been able to enhance its competitive advantages and quality of services to become the first insurer of choice.