Saudi Arabia: Tawuniya nets health insurance deals in ICT sector
Source: Middle East Insurance Review | Dec 2016
The Company for Cooperative Insurance (Tawuniya) has renewed its health insurance deal with Saudi Telecom Company (STC) in what is considered to be one of the largest insurance deals across the Kingdom.
Apart from STC, Tawuniya’s portfolio in the ICT sector includes the Communications and Information Technology Commission (CITC), Mobily, Zain and Etihad Atheeb Telecommunication Company (GO), reported Saudi Gazette.
Mr Abdulaziz Al Boug, Senior Vice President of Sales in Tawuniya, said: “The ICT sector in Saudi Arabia is one of the key sectors that play an important role in the Saudi economy, in terms of its contribution to the GDP, and by its services to all segments of society as well as its contributions to direct employment.”
According to Mr Al Boug, Tawuniya considers these medical insurance contracts as a strategic part of the company’s plan to attract and acquire more contracts from different industries, which will boost Tawuniya’s medical insurance portfolio.
With a paid-up capital of SAR1 billion (US$266.6 million), Tawuniya has the largest network of 116 sales offices and claim centres in the Kingdom.
SAR1 = US$0.27