The Insurance Authority has appointed Mr Abdulaziz Ibrahim Alnowaiser as CEO, effective 1 November 2026, succeeding Engineer Naji AlFaisal AlTamimi.
The Board of the Insurance Authority commended Eng Al-Tamimi for his contributions and achievements, which helped strengthen the Authority's role during its founding phase, and wished the new CEO success in leading the Authority toward achieving the objectives of the National Insurance Sector Strategy.
Mr Alnowaiser brings more than 25 years of executive and board-level leadership experience across the investment, real estate development, technology, telecommunications, transportation, financial services and insurance sectors.
His insurance experience spans 15 years at Tawuniya, where he held several positions before becoming Chairman of the Board and of its Executive Committee, a position he held from 2020 until joining the Authority. He also chaired the Board and the Executive Committee of United Insurance Company in Bahrain.
In a separate announcement, Tawuniya announced the resignation of Mr Alnowaiser from his positions as Chairman and member of the Board of Directors (Non-Executive), due to his professional commitments. The Company will announce the appointment of a new Chairman of the Board of Directors in due course.
Previously, Mr Alnowaiser served as CEO of Emaar, The Economic City, the master developer of King Abdullah Economic City, and as CEO of Tahakom Investments Company, a subsidiary of the Public Investment Fund (PIF), where he oversaw its portfolio of 18 companies. He also chaired the boards of The Company for Cooperative Insurance (Tawuniya) and United Insurance Company and served as Vice Chairman of Osool Integrated Real Estate Company and as a board member of Maharah Human Resources Company and Ports Development Company, owner of King Abdullah Port.
He has led major strategic transformations, most notably the financial restructuring of Emaar, The Economic City, in partnership with PIF. Under his chairmanship, Tawuniya grew its gross written premiums to SAR23.8bn ($6.3bn) and its market share to 28%, achieving record profits.
Mr Alnowaiser also brings deep financial expertise, gained through senior finance roles at stc solutions, Al Othaim Real Estate Investment & Development Company and Elm, and through chairing and serving on the audit committees of leading national companies, including Mobily, Saudi Arabia Railways, National Water Company, flyadeal, Maharah Human Resources Company, Umm Al-Qura Cement and Saudi Entertainment Ventures.